Sensex, Nifty tank 1% ahead of Trump inauguration

Axis Bank slumped after it posted disappointing results, dragging down other lenders

The Indian benchmark indices fell one per cent on Friday ahead of Donald Trump's take over as US President. While the benchmark Sensex closed 274.1 points or one per cent lower at 27,034, the Nifty lost 85.75 points or one per cent to close at 8,349.3. Even the broader markets showed a similar trend as the mid cap and small cap indices lost 1.54% and 1.27% respectively.

Weak global cues also impacted the movement of Sensex as the majority of the European indices closed in the red during last session after US Fed Chair Janet Yellen reiterated that US FOMC