Closing Bell: Nifty ends near 16,200, Sensex tanks over 1000 points; bank, IT, energy stocks worst hit

Ahead of FOMC meeting, the Indian market fell more than one and half per cent amid weak global cues on Friday. Benchmark Nifty50 declined 1.73 %, while Sensex fell by over 1000 points to end at 16,201 and 54,265 respectively.  

Underperforming headline indices, Nifty midcap closed with around 0.8% cuts and small cap saw ended lower by more than one per cent. Amid volatility, India VIX closed near 20-mark.  

On the sectoral front, Oil & gas, IT, bank and financial stocks were tested the most amid profit booking in these sectors as all Nifty sectoral indices closed deep in the red on Friday.  

Among stocks, Grasim, Apollo Hospitals, Dr Reddy's, Asian Paints and Divis Laboratories were top gainers on Nifty 50, which saw 37 stocks declining and 13 advancing.

UltraTech Cement, Nestle India and Titan were among other gainers.  

Kotak Bank declined the most on the benchmarks, correcting around four per cent. Bajaj Finance, HDFC Ltd, Hindalco, Reliance Industries, Wipro, Infosys and Tech Mahindra were other top laggards on Friday