Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India. (SOURCE:REUTERS) Reuters

India shares fell on Monday, tracking lackluster Asian equities and amidst caution ahead of the consumer inflation data due later in the day.

Equities in Asia put in a mixed start to the week as investors seek fresh catalysts after last week's run to record highs.

The pound slipped in early trading amidst reports that 40 members of parliament from British Prime Minister May's Conservative Party have agreed to sign a letter of no-confidence in her, almost enough to trigger a leadership challenge.

The S&P BSE Sensex fell 0.84 percent at 33,033 while the broader NSE Nifty dropped 0.94 percent to 10,224.

A Reuters poll forecast India's retail inflation to have sped up to a seven-month high in October, led by a rebound in food prices as unexpected rains destroyed crops, diminishing the chances of further interest rate cuts.

Among the top Sensex losers, Larsen and Toubro fell 1.9 percent, Coal India dropped 3 percent, ONGC lost 3.4 percent while Adani Ports shed 4.4 percent.

Shares of the New India Assurance Co debuted 10 percent lower on the bourses, after the general insurer saw its Rs 9,600 crore initial public offer get subscribed 1.19 times earlier this month.

Idea Cellular declined 3.6 percent after the telecoms firm swung to a September-quarter loss.

Birla Corp plunged 12 percent after the company said its net profit slumped 98 percent in the September quarter.

DLF dropped 3 percent after the company posted a 94 percent drop in quarterly net profit.

But National Fertilizers gained 0.4 percent after the company reported a 46 percent rise in its net profit in the September quarter

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.