Mumbai, June 24: The BSE Sensex falls 0.77 percent, while the broader Nifty is lower 0.8 percent, after earlier marking their lowest level since April 16.

Asian shares fall to a fresh 9-1/2-month low as investors worry about China's economic and financial stability.

Shares of Ranbaxy Laboratories fall 3.6 percent after newspaper Business Standard reported the U.S. Food and Drug Administration had raised concerns about a plant in northern India, citing unidentified sources.

A Ranbaxy spokesman declined to comment whether it had received a query. The FDA was not immediately reachable for comment.

Indian shares are expected to remain volatile this week ahead of the expiry of June derivative contracts on Thursday.

Traders are also warily watching Indian stocks with heavy foreign ownership.

Housing Development Finance Corp Ltd (HDFC.NS), which has a 74 percent foreign ownership, is down 1.2 percent.

Foreign institutional investors have sold cash shares for nine straight sessions, totalling 77.60 billion rupees, as per exchange and regulatory data.