At one point during the trading session, the Sensex had crashed over 1,000 points, and the Nifty50 plunged to trade below 22,900. Benchmark stock market indices fell sharply on Friday as both the Sensex and Nifty closed over 1% lower.

Shares of metal, realty, pharma, information technology, auto and oil & gas suffered deep cuts. And all sectoral indices ended the session in negative territory.

Some of the top gainers on the Nifty50 were Tata Consumer Products, Bajaj Finance, HDFC Bank, Nestle India and Apollo Hospitals.

On the other hand, the top losers were Tata Steel, Hindalco, ONGC, Tata Motors and Cipla. Tata Steel fell as much as 9% on concerns over Donald Trump’s tariffs.

Among auto stocks, Tata Motors was hit hard by Trump’s 25% tariff on automobiles. Tata Motors stock fell nearly 7% during the session.

IT stocks such as Wipro, Tech Mahindra, L&T, HCLTech, TCS and Infosys also suffered deep cuts due to fears of rising inflation in the US. It is worth noting that Indian IT services companies depend heavily on US operations for their revenue.