Domestic equity benchmarks took heavy losses amid a broad-based sell-off on Friday, with the Sensex sliding 1,414.3 points to end at 73,198.1 and the Nifty50 giving up 420.4 points to settle at 22,124.7. Investors lost about Rs 9 lakh crore in wealth as the market capitalisation of BSE-listed firms declined to Rs 384.12 lakh crore from Rs 393.10 lakh crore the previous day, according to provisional exchange data. 

Barring five stocks, Shriram Finance, HDFC Bank, Coal India, Trent and Hindalco, rising between 0.3 per cent and 2.0 per cent, all Nifty50 stocks finished lower. IndusInd Bank, Tech Mahindra, Wipro, Bharti Airtel, Mahindra & Mahindra, Tata Motors and Titan, closing between 4.2 per cent and 7.1 per cent lower, were the top blue-chip losers in the Nifty50 basket.

Investors awaited an official quarterly GDP reading due later in the day for domestic cues.  

By the end of the day, Infosys, Bharti Airtel, ICICI Bank, TCS and M&M caused the biggest blows to both Sensex and Nifty50.

Broader indices Nifty Midcap 100 and Nifty Smallcap 100 fell 2.5 per cent and 3.0 per cent respectively. 

Overall market breadth remained extremely negative throughout th eday, with an end-of-day advance-decline ratio of almost 1:5 as 776 stocks rose while 3,218 fell on BSE.

Globally, growing concerns about a full-fledged global trade war hurt investor sentiment, rattling major markets around the globe.

Dalal Street took negative cues from other Asian markets, as reflected in a 2.4 per cent fall in MSCI's brodest index of Asia Pacific shares outside Japan, after the American technology stocks-heavy Nasdaq Composite finished 2.8 per cent lower. Japan's Nikkei 225 fell 3.0 per cent. 

The 47th President of the US said that the 25 per cent duties on imports from Canada and Mexico, announced earlier, would come into effect on March 4, and not April 2.

He also proposed additional 10 per cent tariffs on China, fuelling more fears of an escalating global trade conflict.

Analysts say the growing undertainty about the global trade situation is spooking investors around the globe.  

Overnight on Wall Street, the Dow Jones Industrial Average gave up 193.6 points, or 0.5 per cent, to end at 43,239.5 while the technology stocks-heavy Nasdaq Composite crashed 530.9 points, or 2.8 points, to 18,544.4. 

The S&P 500--the other American blue-chip index along with the Dow--fell 94.5 points, or 1.6 per cent, to settle at 5,861.6 on Thursday. 

Additionally, a weekly US jobless claims reading fuelled concerns about the health of the world's largest economy.

Many analysts are also raising their US inflation expectations owing to the developing global trade situation.

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