New Delhi, July 18 -- The Indian stock market extended decline on Friday, dragged by selling in banks, financials, FMCG and pharma stocks amid mixed global market cues. The benchmark Sensex dropped more than 300 points, while the Nifty 50 slipped near 25,000 level.

Axis Bank, SBI Life Insurance, Tech Mahindra, Kotak Mahindra Bank, Bharti Airtel, Bharat Electronics (BEL) were among the top losers among Nifty 50 constituents.

In the previous session, the equity market indices ended lower, and the benchmark Nifty 50 closed below 25,200 level. The Sensex dropped 375.24 points, or 0.45%, to close at 82,259.24, while the Nifty 50 settled 100.60 points, or 0.40%, lower at 25,111.45, on Thursday.

On the Nifty 50 options front, Chandan Taparia,...