Nifty ended below 17200, Sensex dropped 581 points, PSU Banking stocks soared, Axis bank up 2.88%

Nifty 50 ended at 17110.15 after losing 168 points. Sensex closed at 57276 after losing 581 points.

Nifty PSU Banking stocks did well . The PSU Banking Stock index was up by 5% with Union Bank taking the lead with 9.26% gains, followed by Canara Bank (8.65%), and other constituents. SBI was up 2.79%.

Media, Auto, and Banking stocks performed well.

Nifty IT was the top losing sector on the index.

Top gainers on Nifty:

Axis Bank. 2.88%

SBI. 2.79%

Maruti Suzuki. 2.53%

Cipla. 2.42%

Kotak Mahindra. 1.87%

Top losers on Nifty:

HCL Tech. -4.09

Tech Mahindra. -3.67%

Dr. Reddy’s Labs. -3.33%

TCS. -3.20%

Wipro. -3.19%