The benchmark BSE Sensex ended 400 points lower on Friday due to profit booking in realty, capital goods, tech, auto and banking stocks.
BSE Sensex closed lower by 409.73 points, or 1.24%, to 32,596.54, while the Nifty 50 declined 116.70 points, or 1.15%, to close at 9,998.05.
The Sensex tanked over 400 points in the opening trading session due to renewed global trade war fears between US and China and losses in European markets.
The 30-share Sensex opened higher at 33,206.99 and hit a high of 33,281.77 in early trade. However, it plunged into the negative zone to touch a low of 32,963.31 in afternoon trade as fresh worries appeared after reports that the US President is mulling new import tariffs on China.
The NSE Nifty closed down by 40.50 points or 0.39 per cent at 10,114.75 as banking stocks dropped. It shuttled between 10,207.85 and 10,105.40 during the day.
The US Trade Representative (USTR) said America has strong evidence of Beijing violating its commitments on intellectual property and technology transfers, fanning speculation that the White House may announce sanctions against China tomorrow.