Indian markets continued its downfall in the post noon deals on Friday tracking weak Asian markets. Both Sensex and Nifty were trading below 13-month low, amid continuous sell-off from foreign investors. Global markets were under pressure ahead of the crucial US jobs data which will be released later in the day.

At 12.48 p.m., the Sensex was trading down 571 points or 2.22% at 25,193.78 with 29 components falling. Meanwhile, the Nifty was trading lower by 157.25 points or 2.01% at 7,665.75 with 50 components falling.

Rohit Gadia, Founder & CEO, CapitalVia Global Research on the current market status, said, ''We are expecting further sell off in the market due to continuous selling from FII's and negative global sentiments, leading to a downside movement. Technically Nifty can test the levels of 7450 and if this level is breached the next level for Nifty can be 7000.

For new investors we will suggest to stay away from market for time being till slight recovery is seen. For existing investors we will suggest wait for further correction of 4-5% and post that add positions from those levels.''

Major losers in the 30-share index were Tata Power Company (5.43%), Axis Bank (4.77%), Sesa Sterlite (4.49%), I C I C I Bank (4.42%), Tata Steel (4.42%), and Tata Motors (3.88%) were the major losers in the Sensex.

The Power index was at 1,723.32, down by 129.93 points or by 7.01%. The Consumer Durables index was at 10,401.29, down by 743.11 points or by 6.67%. The Capital Goods index was at 15,443.67, down by 849.88 points or by 5.22%. The Realty index was at 1,230.21, down by 53.79 points or by 4.19%.

Market breadth was negative with 342 advances against 1,905 declines.