The 30-share BSE Sensex tanked 845.68 points to 76,482.51 in early trade. The 50-share NSE Nifty dropped 237.90 points to 23,936.85.
From the 30-Sensex firms, Titan, InterGlobe Aviation, State Bank of India, Eternal, Bharti Airtel and Mahindra & Mahindra were among the biggest laggards.
NTPC and HCL Tech were the only winners.
Brent crude, the global oil benchmark, traded 4.32 per cent higher at USD 105.7 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,110.60 crore on Friday, according to exchange data.
On Friday, the Sensex tanked 516.33 points or 0.66 per cent to settle at 77,328.19. The Nifty dropped 150.50 points or 0.62 per cent to end at 24,176.15.
