During the day, the rupee had fallen to 66.85 against the American currency at the forex market. Consequently, Nifty also crashed below the 7,600-mark.
The 30-share index after opening positive at 25,302.98, advanced to a high of 25,387.32 in early trade. However, it succumbed to profit-booking and slipped below the 25,000-mark to touch a low of 24,851.77 points, before ending 308.09 points or 1.22 percent down at 24,893.81.
The NSE Nifty cracked crucial 7,600-mark by tumbling 96.25 points or 1.26 percent to 7,558.80 -- its lowest closing since July 15, 2014.
Axis Bank, Vedanta, ICICI Bank, Hindalco, Lupin, BHEL, Dr Reddy's, Coal India, Sun Pharma, NTPC, L&T, SBI, Tata Steel, GAIL, Infosys, HUL, HDFC Bank, ITC, Bharti Airtel, Bajaj Auto and Hero MotoCorp were among the major BSE losers.
Sectorwise, BSE Healthcare index suffered the most by falling 2.57 percent, followed by metal 2.31 percent, bankex (2.10 pc), power (1.92 pc), capital goods (1.89 pc), realty (1.75 pc) and PSU (1.64 pc).
In broader markets, mid-cap index fell by 2.19 percent, while small-cap ended 1.76 percent lower.
Among other Asian markets, Shanghai ended 2.52 percent down, Hong Kong's Hang Seng dived 1.23 percent, while Japan's Nikkei ended 0.38 percent higher.


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