Nifty PSU Bank index sees its second biggest drop of 2022, ends as top sectoral loser

The Nifty PSU Bank index, an index of India's state-run lenders ended 6 percent lower on Friday, ending the session as the top sectoral loser.

Friday's drop was the second biggest drop for the PSU Bank index in 2022, after the 8 percent that it shed on February 24.

After a stellar run over the last few weeks, the index declined for the seventh straight session on Friday. All the index constituents ended with losses between 1-15 percent, led by Indian Overseas Bank.