The BSE Sensex and NSE Nifty plunged nearly 1 per cent on Friday as mixed global cues and profit booking dampened market sentiments. Domestic equity markets failed to draw some support with the President Pranab Mukherjee gave his assent to the landmark Goods and Services Tax (GST) Bill. Markets also witnessed some selling on a suspected nuclear test by North Korea. Reports suggested that South Korea has called for an emergency National Security Council meeting. The 30-share index closed 248.03 points down at 28797.25, while Nifty 50 index settled 85.80 points down at 8,866.70. In the 50-share index, ONGC, GAIL, Tata Consultancy Services, Wipro and Reliance Industries advanced by 3.53 per cent, 1.59 per cent, 1.29 per cent, 1.28 per cent and 0.78 per cent, respectively. On the other hand, Hindalco, YES Bank, UltrTech Cement, Axis Bank and Hero MotoCorp slipped by 4.17 per cent, 3.97 per cent, 3.41 per cent, 2.51 per cent and 2.40 per cent, respectively. Traders were also cautious ahead of Index of industrial production data for the month of July to be released after the market hours. Factor output growth slipped to 2.1 per cent in June, as compared to 4.2 per cent in June 2015. Sectorwise, the BSE Metal index slipped the most \u2014 1.77 per cent, followed by BSE FMCG index (down 1.76 per cent), BSE Auto index (down 1.48 per cent) and BSE Consumer Durables index (down 1.20 per cent). The BSE Oil & Gas index, BSE IT index and BSE Realty index gained 0.92 per cent, 0.41 per cent and 0.34 per cent, respectively. Shreyash Devalkar, fund manager, equities, BNP Paribas Mutual Fund said, "After the recent rally, investors seemed to have turned cautious, choosing to book profits and take some money off the table." Asian peers mostly ended in red on Friday. Shanghai Composite and KLSE Composite index closed down by 0.55 per cent and 0.29 per cent, respectively. However, Hang Seng and Nikkei settled higher by 0.75 per cent and 0.04 per cent, respectively.