BSE Sensex down 183 points in early trade,NSE Nifty declined by 58.25 points

Similarly,the wide-based the National Stock Exchange Nifty declined by 58.25 points,or 0.99 per cent,to 5,814.35.

All the sectoral indices,led by metals,realty and bank,were trading in the negative zone,with losses of up to 2.07 per cent.

Brokers said continued selling by funds largely in line with a weak trend in Asian bourses as euro-zone fears returned on news that Cyprus was planning to tax bank depositors as part of a controversial bailout,influenced the trading sentiment here.

In the Asian region,Hong Kong’s Hang Seng index was down by 2.04 per cent and Japan’s Nikkei index shed 2.15 per cent in the morning trade. The US Dow Jones Industrial Average ended 0.17 per cent lower in Friday’s trade.

* Nifty futures on the Singapore Exchange down 0.66 percent,while the MSCI-Asia Pacific index,excluding Japan,falls 1.51 percent.

* The yen firmed and Asian shares slipped on Monday after an unusual bailout proposal for Cyprus rattled investor nerves,while Friday’s halt to Wall Street’s long winning streak further dampened sentiment.

* Investors are now gearing up for the Reserve Bank of India’s policy review on Tuesday amid expectations that the central bank will lower interest rates by 25 basis points.

* India’s Finance Minister P. Chidambaram to hold a press conference after his meeting with heads of state-run banks and financial institutions (0600 GMT)

* Also on watch,India’s federal government to finalise its first-half borrowing calendar for 2013/14 (0930 GMT)

Stocks to watch-March 18

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange is down 0.7 percent,while the MSCI-Asia Pacific index,excluding Japan,falls 1.5 percent.

* An unusual bailout proposal for Cyprus rattled investor nerves,prompting flight-to-quality buying into gold and the U.S. dollar while sending risk assets from Asian shares to commodities sharply lower.

* U.S. stocks slipped on Friday,ending the Dow’s longest winning streak since 1996 as investors paused just below the S&P 500’s record high. FACTORS TO WATCH

* India’s Finance Minister P. Chidambaram to hold a press conference after his meeting with heads of state-run banks and financial institutions (0600 GMT)

* India’s government to finalise its first half borrowing calendar for 2013/14 (0930 GMT)

INDIAN STOCKS TO WATCH

FINANCIAL/REGULATORY

* ICICI Bank Ltd has suspended 18 employees pending an inquiry into suspected money laundering,the bank said in a statement on Saturday.

ENERGY/COMMODITIES

* India raised $116 million by selling shares in state-run National Aluminium Co Ltd (NALCO) on Friday,taking the government closer to its fundraising target to reduce the budget deficit.

* Indian Oil Corp reduced the retail sale prices for petrol from Saturday by 2 rupees per litre.

* Bharat Petroleum Corp Ltd,Hindustan Petroleum Corp Ltd and Engineers India Ltd have shown interest in buying stakes in the 1,550-km natural gas pipeline from South Gujarat to the Odisha coast,Business Standard reported citing company officials.

* Engineers India Ltd (EIL) plans to terminate the 3 billion rupees pipeline contract awarded to Fernas Construction India Pvt. Ltd,a unit of Turkey’s Fernas Construction Co for Indian Oil Corp.’s (IOC) Paradip refinery,Mint reported,citing an EIL executive who requested anonymity.

INFRASTRUCTURE* L&T Infrastructure Development Projects,the infrastructure arm of Larsen & Toubro Ltd is in advanced negotiations to divest up to a 20 percent stake,The Economic Times reported,citing three people familiar with the negotiations.

* Private sector infrastructure companies are likely to be allowed to issue long-term tax-free infrastructure bonds,an official familiar with the developments said.

TELECOMS

* Bharti Airtel Ltd could be handed with a “show cause” notice for sharing its 3G airwaves with Vodafone and Idea and be asked to pay 5 billion rupees in penalties, unidentified telecom department officials told The Economic Times.

* India’s mobile phone subscriber base declined by a net 2.1 million,or 0.24 percent,in January to 862.62 million,the seventh straight monthly fall,due to a slowdown in gross additions and as carriers continued to disconnect inactive users.

AUTOS

* Japan’s Isuzu Motors Ltd will set up its first manufacturing facility in India in Andhra Pradesh,with an investment of 15 billion rupees over 5-7 years.

DEFENCE

* Indian Defence Minister A.K. Antony is leaning toward barring Anglo-Italian helicopter firm AgustaWestland from doing business in the country because of a corruption scandal,but he could be outvoted by cabinet colleagues,several government sources said.