India, May 29 -- Indian stock markets witnessed a sharp sell-off on Friday, with benchmark indices plunging in the final hour of trade as investors grappled with uncertainty over a potential US-Iran peace deal, MSCI's latest index rebalancing and concerns over elevated crude oil prices.

The BSE Sensex ended 1,092.06 points, or 1.44 per cent, lower at 74,775.74, while the NSE Nifty50 slumped 359.40 points, or 1.5 per cent, to settle at 23,547.75. The sell-off intensified towards the close, with the Sensex falling nearly 1,450 points from its intraday high of 76,220.02 and the Nifty retreating from a high of 24,002.8.

Market breadth remained weak, with 2,507 stocks declining against 1,568 advances on the BSE.

A key trigger behind the dec...