09/03/2015 4:29 PM IST | Updated 15/07/2016 8:25 AM IST

BSE Sensex Falls 2 Percent On Stronger US Jobs Data

Bloomberg via Getty Images
People walk past the Bombay Stock Exchange (BSE) logo displayed outside the building's lobby in Mumbai, India, on Tuesday, Aug. 5, 2014. Indias benchmark stock-index fell as lenders declined after the central bank said curbing prices will create the best conditions for economic growth even as it left interest rates unchanged. Photographer: Dhiraj Singh/Bloomberg via Getty Images

The BSE Sensex and Nifty fell as much as 2 percent on Monday and were heading towards their biggest single-day drop in three months as stronger-than-expected US jobs data raised expectation that the Federal Reserve would raise interest rates sooner than previously thought.

The Nifty fell as much as 2.04 percent, while the benchmark Sensex dropped as much as 2.05 percent. Both indexes were headed for their biggest daily falls since Jan. 6.

Losses tracked falls in regional shares, with the MSCI's broadest index of Asia-Pacific shares outside Japan down 1.17 percent.