NEW DELHI: Domestic equity benchmarks Sensex and Nifty50 plunged over 700 points on Friday. At 3:08 pm (IST), the 30-share Sensex was trading over 701.08 points lower, while the 50-share Nifty50 index was trading below 8,300 level.Among the 30 components in the Sensex, 29 were trading in the red with Adani Ports down 6 per cent, followed by Asian Paints (down 5 per cent), Tata Motors (down 4.78 per cent), ICICI Bank (down 4.91 per cent) and Hero MotoCorp (down 4.85 per cent). On the other hand, Sun Pharma was trading higher by 3.38 per cent.Going by the buzz on Dalal Street , here are the top five factors dragging the market down in Friday’s trade.Asian shares mostly edged lower as US bond yields soared on expectations that US President-elect Donald Trump's policies would stoke inflation . Investors fear that higher interest rates under President Trump will spark capital outflows from emerging markets. The Hang Seng and TWSC were trading 1 per cent and 1.80 per cent down on Friday morning. However, the Shanghai composite was trading 0.61 per cent higher. Higher US interest rates could make emerging markets less attractive for global investors, sparking outflows and hitting currencies such as the rupee.Despite a rally in the domestic equity market on Thursday, foreign institutional investors were net sellers, which further weighed in Friday’s fall. They offloaded shares worth of Rs 2,044.52 crore with gross sales and gross purchases of Rs 7,220.38 crore and 5,175.86 crore, respectively, data available with NSDL showed.A falling rupee also dented the market mood in early trade on Friday as the currency crashed by 52 paise on account of strong demand of dollar.September quarter results have not shown enough strength so far to show any promise of a sharp rebound in earnings in the forthcoming quarters.Some market experts said profit booking further dampened the market mood in early trade. On Thursday, the BSE barometer Sensex advanced 265.15 points, or 0.97 per cent, to 27,517 while the Nifty50 index gained 93.75 points, or 1.11 per cent, to settle at 8,525. Sudip Bandyopadhyay, Chairman, Inditrade Capital, said, “The market is in a wait and watch mode and we are seeing some amount of profit booking in Friday’s trade.”