Mumbai: Equity benchmark Sensex plunged 746 points to close at 48,878.54 on Friday, tracking losses in index majors Reliance, HDFC twins and ICICI Bank amid a weak trend in global markets.Also Read - Sensex Hits All-time High, Trades Above 50,000

The 30-share BSE index ended 746.22 points or 1.50 per cent lower at 48,878.54. Also Read - Market Today: Sensex Jumps 170 Pts Amid Global Ahead of Budget 2021; Nifty tops 14,590

Similarly, the broader NSE Nifty tumbled 218.45 points or 1.5 per cent to 14,371.90. Also Read - Sensex Hits 49,000 For The First Time, Nifty Above 14,400

Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance.

On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended in the negative territory.

Stock exchanges in Europe were also trading on a negative note in early deals.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 1,614.66 crore on Thursday, according to exchange data.

Meanwhile, the global oil benchmark Brent crude was trading 1.80 per cent lower at USD 55.09 per barrel.