Does not look good, could be lighting but I think it's something else from exposure to too much moisture. It's probably from too much water, you did the right thing by removing it from the rain. Keep an eye on it for two weeks and see if it bounces back.

Watering once a day is way over doing it with the water. The leaves are turning yellow from the nitrogen being pushed back into the soil in a last ditch effort to give the roots some oxygen. Stop watering for at least 3 to 5 days. The leaves on the plant are at some point going to fall off. Do not start pumping every fertilizer, and home remedy into the plant. All you need to do is let it dry out. Then water only when the plant needs it. The plant will take anywhere from a few days to a couple of weeks before it starts to show any improvement.

Over watering is probably the most common mistake people make. Next is overdoing things to correct the problems that the over watering created.

It could be damping off fungus. Are the stems getting weak at that spot? If it is damping off, too much moisture is the cause. One thing you can do besides letting it dry out is to sprinkle some cinnamon over the soil.

Thanks guys I appreciate the help. Il just write the plant off and start again.

I wouldn't write it off. I would transplant it up past where the problem area is and see if it recovers.