* NSE index down 1.2 pct, BSE index 1.3 pct lower
* Financials top drag, Reliance Ind falls 2.2 pct
Sept 17 (Reuters) - Indian shares fell over 1 percent on Monday after two straight sessions of gains, as measures outlined by the government on Friday to stem the rupee's steep decline failed to boost investor sentiment, while weak Asian shares also weighed on the market.
The rupee INR=D2 fell more than 1 percent to 72.70 per dollar. EMRG/FRX
Asian shares also declined, with MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS down 0.98 percent after three consecutive sessions of gains. MKTS/GLOB
The broader NSE index .NSEI fell 1.19 percent, or 137.45 points, to 11,377.75, while the BSE index declined 1.33 percent, or 505.13 points, to 37,585.51.
Financials took a beating with Housing Development Finance Corp HDFC.NS shedding 2.4 percent, while HDFC Bank Ltd HDBK.NS dropped 1.8 percent.
Index heavyweight Reliance Industries Ltd RELI.NS fell 2.2 percent.
For the mid-day report, click