The Indian equity benchmarks fell on Thursday after US Federal Reserve raised interest rates by 75 basis points and reiterated that more rate hikes are on cards to rein in spiralling inflation. The Sensex fell as much as 624 points and Nifty 50 index touched an intraday low of 17,532. The rupee also fell to record low of 80.95 per dollar as the greenback surged to its highest level in two decades after rate hike by the Federal Reserve.