Last hour selling in the market, largely on the back of a weaker rupee as well as expiry-related volatility dragged benchmarks lower on Wednesday. The Sensex managed to end the day over 100 points lower, while the Nifty closed above 10,550-mark.

At a sectoral level, financial stocks dragged the market, with cuts visible in ICICI Bank as well as HDFC Bank. The Bank Nifty closed with a fall of 228 points.

Meanwhile, shares of information technology (IT) companies saw big gains, led by Tata Consultancy Services (TCS). They were boosted by positive sentiment coming in from results as well as a weaker rupee.

The rupee weakened to a fresh 13-month low by falling 27 paise to 66.65 against the American currency on bouts of month-end dollar demand from importers amid crude price volatility and rising US bond yields. The rupee opened lower at 66.48 from yesterday's closing level at 66.38 per dollar at the interbank foreign exchange here