Sensex down 400 pts, rupee falls 135 Paise; banks in blood bath

The market wiped out gains on the back of profit taking. The Nifty loses its grip over 5450, at 5415.90 down 134.85 points or 2.43%. The Sensex loses 409.33 points or 2.17% at 18476.80.

The rupee fell sharply, back above 67 to the dollar as foreign banks purchased dollars probably for foreign institutional investors (FII).

Rupee down 200 paise; Sensex down 500 pts, Nifty below 5400