The BSE benchmark Sensex today fell by a staggering 298.07 points to close at its lowest level in nearly two months, mainly led by drop in interest rate sensitive stocks as rupee slumped to new lows dashing hopes of a rate cut by RBI next week.

Also, Jindal Steel logged the day's biggest loss as Naveen Jindal and the company were named as accused in the fresh FIR filed by CBI in connection with the coal allocation scam. The 30-share index started the day on a weak note and continued its downward march throughout the day as rupee kept tumbling. It settled 298.07 points lower, or 1.53 per cent, at 19,143, a level last seen on April 22.