Mumbai/IBNS, Aug. 7 -- Indian equity markets witnessed a sharp sell-off on Friday, with the benchmark BSE Sensex plunging more than 500 points and the NSE Nifty 50 slipping below the 24,600 mark amid weak global cues and cautious investor sentiment.

The broad-based decline was led by selling across key sectors, with investors booking profits after recent gains.

Despite a partial recovery during the session, market sentiment remained subdued as traders stayed cautious over global economic developments.

The domestic sell-off came against a mixed performance across Asian equities.

Japanese stocks declined, reflecting concerns over global growth and rising energy costs, while South Korean shares gained as investors assessed corporate earn...