Nifty and Sensex drop 0.7% each as weak Axis Bank results drag financials; broader markets also extend losses this week.

• Axis Bank falls 4.3% on credit cost, margin pressure, and asset quality concerns after disappointing quarterly profit.
• HDFC, ICICI Bank decline ahead of results; Reliance down 0.4% awaiting earnings release later today.
• Small-cap, mid-cap indices lose 0.5%; LTIMindtree drops on revenue miss, Wipro rises 2.2% on earnings beat.