MUMBAI (Reuters) - The BSE Sensex and the Nifty fell more than 2 percent to their lowest intraday level in nearly a year as blue chip stocks including ITC slumped after the rupee hit a record low and on growing concerns that US Federal Reserve may start tapering its monetary stimulus in September.
The Indian rupee weakened past 64.13 per dollar to hit a record low as heavy dollar buying by large state-run banks, along with demand from custodian banks, hurt the local currency on Wednesday.
ITC
The BSE Sensex fell 2.09 percent, while the 50-share Nifty slumped 2.13 percent, after earlier gaining nearly 2 percent on RBI steps to ease cash, bond holding rules.
(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)
