The Indian equity benchmarks moved sharply lower on Friday dragged by losses in index heavyweights like Infosys, HDFC Bank, Reliance Industries, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Kotak Mahindra Bank and Axis Bank amid weak global cues. The Sensex fell as much as 844 points and Nifty 50 index dropped below its important psychological level of 17,550.