Indian stocks markets opened sharply lower on Wednesday in line with other global markets.

The Bombay Stock Exchange’ Sensex broke crucial 11,000 level and was at day's low at 10,998.05, down 697.19 points or 5.96 per cent. However, it recovered to 11,075 later.

The benchmark heavyweights like Reliance Industries and Infosys Technologies were down over 6 per cent.

National Stock Exchange’s Nifty was at 3397.60, down 209 points or 5.79 per cent. The broader index broke two important supports of 3500 and 3400 in trade so far.

Meanwhile, the Indian rupee tumbled by 54 paise to nearly six-year low of 48.47 against the greenback in morning trading.

In active trade at the Interbank Foreign Exchange (Forex) market, the domestic currency started weak at 48.22/24 a dollar from its previous close of 47.93/94 a dollar. It later touched a low of 48.47 before being quoted at 48.42/43 a dollar in late morning deals.