Sensex falls one percent; Axis Bank slumps after results

The NSE index slipped around 0.6 percent for the week, while the BSE dropped 0.7 percent.

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India, February 17, 2016. REUTERS

Indian shares fell 1 percent on Friday to post their first weekly fall in four as Axis Bank slumped after it posted disappointing results, dragging down other lenders.

The broader NSE Nifty closed down 1.02 percent at 8,349.35, while the benchmark BSE Sensex ended down 1 percent at 27,034.50.

The NSE index slipped around 0.6 percent for the week, while the BSE dropped 0.7 percent.

Axis Bank ended down 6.83 percent.