The Nifty 50 ended the session with a drop of 0.54%, settling at 23,442 points, while the Sensex wrapped up the session with a drop of 0.40%, at the 77,312 level. It was the mid- and small-cap stocks that continued to be hammered by investors sharply in Friday's session.

India’s benchmark indices ended in red on Friday, pressured by selling in heavyweight financial and energy stocks, as concerns over corporate earnings dampened market sentiment, while IT stocks stood out as the only gainers after quarterly update from sector leader TCS suggested early signs of a demand recovery.

Nifty 50 slipped below the 23,550 mark, marking a decline of 162 points to end at 23,526.5. The Sensex fell 528 points to settle at 77,620, as broader market sentiment remained bearish. Frontline indices lost nearly 1% each,