Mumbai: Equity benchmarks Sensex on Friday slumped over 900 points to crash below the 76,000 level due to an across-the-board sell-off, tracking weak global markets amid growing global trade war fears.
Besides, heavy selling in market heavyweights Reliance Industries, Larsen & Toubro and Infosys and a sharp correction in global crude prices, indicating recessionary fears, added to the gloom, analysts said.
The 30-share BSE Sensex tumbled 930.67 points or 1.22 per cent to settle at 75,364.69.
During the day, it plummeted 1,054.81 points or 1.38 per cent to hit an intraday low of 75,240.55.
The broader NSE Nifty declined 345.65 points or 1.49 per cent to close at 22,904.45. In the session, the 50-share benchmark gauge 382.2 points or 1.64 per cent to 22,867.90.
As much as 2,820 stocks declined, 1,126 advanced and 130 remained unchanged on the BSE.
The market capitalisation of BSE-listed firms slumped by Rs 9,98,379.46 crore to Rs 4,03,34,886.46 crore ($4.73 trillion).
During the week, the BSE Sensex tanked 2,050.23 points or 2.64 per cent, while the NSE Nifty declined 614.8 points or 2.61 per cent.
Tata Steel was the biggest loser in the Sensex pack, sliding 8.59 per cent, followed by Tata Motors, Larsen & Toubro, Adani Ports, IndusInd Bank, Tech Mahindra, Reliance Industries, Sun Pharmaceutical, HCL Technologies, Tata Consultancy Services, Infosys, and NTPC, were the major laggards.
On the other hand, Bajaj Finance, HDFC Bank, Nestle India, ICICI Bank, ITC, Asian Paints and Axis Bank were among the gainers.
In broader markets, the BSE midcap gauge plunged 3.08 per cent, while smallcap index declined 3.43 per cent.
All the sectoral indices ended in negative territory. Metal plunged declined 6.34 per cent, followed by capital goods (3.99 per cent), Oil & Gas, Commodities, and Industrials (3.89 per cent each), Energy (3.65 per cent), realty (3.61 per cent), and IT (3.55 per cent).
In Asian markets, Tokyo and Seoul ended lower. Hong Kong and Shanghai stock markets remained closed for the holidays.
European markets were trading lower in the mid-session deals. US markets closed lower in overnight deals on Thursday, witnessing their biggest drop since 2020.
Meanwhile, foreign institutional investors (FIIs) offloaded equities worth Rs 2,806 crore on Thursday, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 221.47 crore on a net basis.