The BSE Sensex fell over 400 points to and the NSE Nifty dropped over 141 points in afternoon trade on Wednesday after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices. (Photo: AP)

Mumbai: The BSE Sensex fell over 400 points and the NSE Nifty dropped over 141 points in afternoon trade on Wednesday after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices.

The BSE 30-share barometer fell 424.73 points, or 1.16 per cent per cent, to 36,101.41 after hitting a low of 36,325.15. The NSE Nifty also dropped 141.05 points or 1.28 per cent to 10,870.55.

The gauge had gained 299 points on Monday after the RBI announced measures to shore up liquidity. Investors were also cautious ahead of the three-day RBI policy review scheduled to begin Wednesday.