Indian stock markets witnessed a sharp correction on Friday and ended the week’s last session down by over 1% each. Sensex tumbled 1176.46 points, or 1.49%, to finish at 78,041.59. Similarly, Nifty ended down by 364.20 points, or 1.52%, and settled at 23,587.50. Broader markets tumbled even more than benchmarks. Midcap and Smallcap indices ended lower by 2.82% and 2.19%, respectively.