Mumbai, Aug 7 - Indian equities markets closed in the red for the second day in a row Friday, with a key index shedding 354 points over its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,440.95 points, ended trade at 15,160.24 points, down 353.79 points or 2.28 percent.

The index had closed 390 points lower Thursday on heavy selling in frontline stocks.

The Nifty of the National Stock Exchange (NSE), too, shut shop in the red at 4,481.4 points, down 2.27 percent.

Broader market indices also closed in negative terrain with the BSE midcap index ending 2.27 percent down, while the the BSE smallcap index closed 1.92 percent lower.