File photo. Photograph:( Zee News Network )
Asian markets showed similar trends on Friday as Tokyo's key Nikkei index tumbled four per cent at the close as blue-chip and tech share were hit hard.
India's benchmark Sensex nosedived 1,000 points in early trade on Friday as bank stocks ICICI and HDFC including Reliance Industries showed negative trend.
The Sensex fell further falling over 1,700 points as IndusInd Bank, Axis Bank, and Bajaj Finance dragged down the markets. The Sensex was trading at 49,336.03 down 3.36 per cent in mid-afternoon trade.
The NSE Nifty also fell 270.40 points down at 14,826.95 ahead of December-quarter gross domestic product(GDP) data.
On Thursday, Sensex had surged 257.62 points to finish at 51,039.31 with the Nifty climbing 115.35 points to 15,097.35.
Asian markets showed similar trends on Friday as Tokyo's key Nikkei index tumbled four per cent at the close as blue-chip and tech share were hit hard. Sony, Tokyo Electron, Fast Retailing also dived in Friday's trade.
Hong Kong's Hang Seng index dropped over three per cent while Shanghai also traded lower.
The Dow had earlier dropped 1.8 per cent to 31,402.01, retreating from an all-time on Wednesday.