Indian markets tanked on Friday after a tumultuous trade following the rise of benchmark indices as the Sensex hit 50000 for first time ever yesterday. On Friday Indian markets made a negative start tracking weakness in Asian peers. The BSE Sensex ended at 48,878.54, down 746.22 points or 1.50%. The Nifty closed at 14,371.90, down 218.45  points or 1.50%.