Sensex ended 424 points lower at 36,546 on Friday while Nifty settled at 10,943, down 1.14%, as midcap and smallcap stocks came under selling pressure.
The BSE midcap index fell 1.4% while smallcap index declining 0.9%.
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Shares of Tata Motors plunged as much as 30%, its maximum single day fall since February 1993, as many brokerages downgraded the stock and cut its target price after the company posted the biggest loss in India’s corporate history due to an impairment charge for its luxury car unit Jaguar Land Rover.