The Indian equity indices, Sensex and Nifty ended sharply lower Friday dragged by heavy selling across the board amid weak global cues. The Sensex fell 300.17 points, or 0.54 percent, to close at 55,329.32, while the Nifty closed 118.35 points, or 0.71 percent, lower at 16,450.50.

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Broader markets, smallcap and midcap indices also declined 2 percent each. Barring Nifty FMCG, all other sectoral indices closed are in the red with Nifty Metals falling over 6 percent followed by PSU banks, pharma, realty and media indices.

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Sensex falls 300 points, Nifty ends below 16,500; metals bleed; FMCG outperform

"The possibility of the US Fed’s stimulus tapering would start as early as this year spooked the markets across the globe including ours. Besides, participants also took note of a sharp rise in global COVID cases, adding to the pressure," said Ajit Mishra, VP - Research, Religare Broking.

He expects we may see a further slide next week and the Nifty may test level closer to 16,200. In case of a rebound, 16,550-16,700 zone would act as hurdles.

"Considering the scenario, we suggest maintaining positions on both sides and prefer index majors over the others," Mishra said.

Here are key stocks that moved the most today:

Hindustan Unilever

Hindustan Unilever (HUL) shares surged 5.37 percent to end at Rs 2,617.55 apiece on the BSE, taking the fast-moving consumer goods major's market capitalisation above the Rs 6.15 lakh crore mark. The stock hit a 52-week high of Rs 2,628.85 intraday.

A surge in the HUL stock in the past three years helped the FMCG giant cement its position as the country's fifth most valuable company.

Vodafone Idea

Vodafone Idea (Vi) shares closed 7.29 percent lower at Rs 5.98 apiece after a day's pause following seven straight sessions of losses. The Vi stock has been under pressure amid the private sector telecom operator's deteriorating financial position. Brokerages cut their target prices on the stock this week.

The company said on Thursday that it had paid the license fee dues for the April-June period. The company's statement came following a report suggesting that the troubled company had fallen short on the payment of licence fee for the June quarter by Rs 150 crore.

Ujjivan Small Finance Bank

The share price of Ujjivan Small Finance Bank shares plunged 18.76 percent to Rs 19.70 after the resignation of Nitin Chugh as its CEO and managing director. The small finance bank said that Chugh's resignation would come into effect from the close of business hours on September 30.

Chugh resigned due to personal reasons and "there are no material reasons", and he will also cease to be a director of the lender, Ujjivan said.

CarTrade Tech

CarTrade Tech's shares ended below their issue price after a tepid debut on Dalal Street. The share price fell 6.24 percent from the listing price to end at Rs 1,500.10 on the BSE. It was down 7.29 percent from the issue price of Rs 1,618.

Natco Pharma

Shares of Natco Pharma fell over 4 percent after a US district court ruled against the company and its partner Alvogen in patent litigation related to AbbVie's Imbruvica. Natco along with its partner Alvogen is reviewing the order and said it would ill evaluate all options to appeal the judgment.

"We believe that we have a strong case and will continue to defend vigorously," Natco said in an exchange filing.