India, April 25 -- Stock markets are witnessing a turbulent trading session on Friday as benchmark indices crashed sharply in intraday trade, erasing early gains despite largely positive global cues. A massive selloff across all sectors dragged the Sensex down over 1,000 points, with broader indices facing even steeper losses.

The BSE Sensex opened at 79,830, up marginally from the previous close of 79,801, but tumbled as much as 1,004 points to 78,797.39 at 11.30 am. The NSE Nifty 50 followed a similar trajectory, opening at 24,289 before plunging 338 points to an intraday low of 23,908 at 11.30 am.

The drop was led by financial stocks, particularly Axis Bank, which fell 3.7% after reporting a marginal decline in Q4 profit to Rs.7,117 ...