Equity benchmark Sensex plunged 746 points to close at 48,878.54 on Friday, tracking losses in index majors Reliance, HDFC twins and ICICI Bank amid a weak trend in global markets.
The 30-share BSE index ended 746.22 points or 1.50% lower at 48,878.54.
Similarly, the broader NSE Nifty tumbled 218.45 points or 1.5% to 14,371.90.
Axis Bank was the top loser in the Sensex pack, shedding over 4%, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance.
On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended in the negative territory.
Stock exchanges in Europe were also trading on a negative note in early deals.
Foreign institutional investors remained net buyers in the capital market as they purchased shares worth ₹1,614.66 crore on Thursday, according to exchange data.
Meanwhile, the global oil benchmark Brent crude was trading 1.80% lower at $55.09 per barrel.