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Domestic equity benchmarks continued to fall for a second straight session on Friday, as weak quarterly earnings from Axis Bank led losses across the financial space and the overall market. Axis Bank was the biggest contributor to the sharp declines in both main gauges. The Sensex ended 501.5 points, or 0.6 per cent, lower at 81,757.7, while the Nifty50 gave up 143.1 points, or 0.6 per cent, to settle at 24,968.4. Selling pressure in financial and FMCG shares weighed on the market, though gains in pockets such as metal stocks lent some support, saving the indices from deeper losses. 

The Nifty Bank--whose 12 constituents include SBI, HDFC Bank and Axis Bank--lost 545.8 points, or 1.0 per cent, to end at 56,283.

Here are 10 key things to know about the stock market: 

Axis Bank was the top loser as well as the top mover in both headline indices, falling 5.3 per cent for the day. Other top losers in the Nifty50 basket included Shriram Finance, BEL, HDFC Life, Kotak Mahindra Bank, HDFC Bank, Grasim, Titan, Hero MotoCorp, and Trent closing between 0.9 per cent and 3.1 per cent lower. On the other hand, Wipro was the top gainer, rising 2.2 per cent. Bajaj Finance, Tata Steel and HCL Tech--rising between 1.1 per cent and 2.0 per cent--were also among the 17 gainers in the Nifty universe.

Investors lost Rs 2.87 lakh crore in wealth in two days as the market capitalisation of BSE-listed firms fell to Rs 458.31 lakh crore from Rs 461.18 lakh crore on Wednesday, according to provisional exchange data. 

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