The Nifty touched a high of 5,504.10 and a low of 5,447.25 in trade. The S&P BSE Sensex was at 18,430.21, up 184.17 points or 1.01 per cent. It touched a high of 18,567.70 and a low of 18,378.73 in trade.

The BSE Sensex and the Nifty fell more than 2 per cent to their lowest intraday level in nearly a year as blue chip stocks including ITC slumped after the rupee hit a record low and on growing concerns that U.S. Federal Reserve may start tapering its monetary stimulus in September.

The Indian rupee weakened past 64.13 per dollar to hit a record low as heavy dollar buying by large state-run banks, along with demand from custodian banks, hurt the local currency on Wednesday.

ITC slumped 5.3 per cent while Reliance Industries fell 4.8 per cent.

The BSE Sensex fell 2.09 per cent, while the 50-share Nifty slumped 2.13 per cent, after earlier gaining nearly 2 per cent on RBI steps to ease cash, bond holding rules.

(With PTI Inputs)

Top Brands Betting High on Rural Niches to Boost Sales

10 Companies That Like To Keep It Secret!