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IndusInd Bank was the top loser in the Sensex pack, shedding around 5%, followed by Kotak Bank, HUL, Titan, Bajaj Finserv and HDFC

In opening trades, Sensex slipped 511 points or 0.88% to 57,389. Similarly, Nifty was quoting at 17,084 plunging 163 points or 0.95%.

Asian stocks are trading mixed on Friday, following overnight losses on Wall Street.

Axis Securities is bullish on Infosys with a price target of Rs 1,830 - 1,845 per share.

The 30-share index advanced 113.11 points or 0.20% to settle at 57,901.14 while the NSE Nifty rose 27 points or 0.16% to 17,248.40

The latest decision of the US Federal Reserve can have a long-lasting effect on the stock markets of all the developing countries across the globe

In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs)

Infosys was the top gainer in the Sensex pack, rising over 2%, followed by Bajaj Finance, HCL Tech, Tata Steel, Tech Mahindra and NTPC

NBFCs accounted for another 6.85% and other MFIs account for 1.05% of the universe, the report said

Among NBFCs, we think Cholamandalam Finance would be a dark horse, given that second-hand vehicles are seeing a huge amount of buying and selling