Mirroring negative cues from the global markes, the Sensex opened with a significant negative gap of 330 points at 14,569.
Selling was seen across-the-board with big losses in realty, technology, financial and metal stocks.
The Sensex dropped to a low of 14,439 in intra-day deals, and finally ended with a loss of 415 points at 14,484.
The market breadth was fairly negative - out of 2,728 stocks traded, 1,626 declined, 1,011 advanced and the rest were unchanged on Friday.
INDEX SHAKERS. . .
Ranbaxy slumped nearly 9% to Rs 450.
HDFC plunged 5.8% to Rs 2,281. DLF tumbled 5.5% to Rs 494, and Jaiprakash Associates dropped over 5% to Rs 168.
Wipro slipped nearly 5% to Rs 426. HDFC Bank, ICICI Bank and Infosys declined 4.3% each to Rs 1,247, Rs 687 and Rs 1,713, respectively.
Sterlite and Satyam shed around 4% each at Rs 588 and Rs 416, respectively.
Tata Steel and Reliance slipped around 3.5% each to Rs 561 and Rs 2,079, respectively. Grasim was down over 3% at Rs 1,956.
Bharti Airtel shed 2.7% at Rs 804. Hindalco, Larsen & Toubro, Tata Motors and BHEL were down around 2% each.
. . .AND THE MOVERS
Hindustan Unilever moved up 1.8% to Rs 245.
ONGC and ITC were the only other gainers among the index stocks.
VALUE & VOLUME TOPPERS
Reliance topped the value chart with a turnover of Rs 281 crore followed by Reliance Capital (Rs 260.80 crore), Austral Coke (Rs 254.80 crore), SBI (Rs 157 crore) and Reliance Infrastructure (Rs 133.35 crore).
Austral Coke led the volume chart with trades of around 1.21 crore shares followed by Reliance Natural Resources (96.75 lakh), IFCI (50.60 lakh), Chambal Fertilisers (45.80 lakh) and Reliance Petroleum (43.90 lakh).