Indian stock markets corrected sharply and settled down by over 1% on the monthly futures and options expiry date. They were weighed by weakness in global markets on Thursday. Sensex plunged 1,190 points or 1.48% to settle at 79,043.74. Similarly, Nifty ended down by 360.75 points or 1.49% at 23,914.15. Among the broader markets, Midcap and Smallcap indices settled with marginal gains of 0.05% each.