Sensex falls over 500 points on outflow fears after Fed

MUMBAI (Reuters) - The BSE Sensex fell more than 2 percent on Thursday, the biggest daily percentage fall in 21 months, as blue chips such as Reliance Industries slumped after the U.S. Federal Reserve signalled a tapering of its monetary stimulus, stoking fears of portfolio outflows.

Reliance Industries Ltd provisionally fell 3.8 percent, while ITC Ltd ended 1.9 percent lower.

The BSE Sensex provisionally fell 2.8 percent, while the 50-share Nifty ended down 2.86 percent, marking their biggest single-day percentage fall since September 22, 2011.

(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)