Sensex loses 300 points, Nifty down over 100 points

MUMBAI (Reuters) - The BSE Sensex slumped around 300 points and the Nifty fell over 100 points on Monday as the rupee dropped to record lows, while the benchmark 10-year government bond yield rose to 9 percent with the government's measures being seen as inadequate to halt the free-fall in the rupee.

Blue chips including ICICI Bank fell nearly 5 percent on fears that foreign investors may pare their holdings in Indian stocks as the rupee hits a record low.

The Nifty fell 1.8 percent, while the Sensex lost 1.6 percent.

(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)