The BSE Sensex fell 1.7 percent early on Monday, tracking Asian peers and on heightened concerns about the euro zone debt crisis.

The decline was led by energy major Reliance Industries, software service exporter Infosys and lender ICICI Bank.

At 9:17 a.m. (0347 GMT), the 30-share BSE index was down 1.69 percent at 16,176.08 points, with all but two of its components declining.

The broader 50-share NSE index was down 1.8 percent at 4,853.95 points.