Sensex Down Over 400 Points In Early Trade; Nifty Nears 10,600

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Indian shares fell sharply in early trade Monday to extend Friday's sell-off as worries over rising revenue and fiscal deficits as well as weak cues from Wall Street and Asia on fears of a sharper rise in global interest rates spooked investors.

The benchmark BSE Sensex was down 403 points or 1.13 percent at 34,663 while the broader Nifty index was down 130 points or 1.20 percent at 10,631.

Tata Steel, UltraTech, Axis Bank, Ambuja Cement, Infratel, Hindalco, Indiabulls Housing Finance, Bajaj Finance, Yes Bank and Vedanta fell 3-5 percent in the Nifty pack, while Tech Mahindra, TCS, Tata Motors, Wipro and Bharti Airtel rose about 1 percent each.