Mumbai, Aug. 28 -- The domestic equity benchmarks tumbled for a second straight session on Thursday as U.S. tariffs on Indian goods hit sentiment. Washington slapped 25% duties on key exports, stoking fears of trade tensions and economic fallout. The expiry of monthly Nifty futures contracts added to volatility, while weak global cues and sustained foreign fund outflows deepened the selloff. The Nifty ended near 24,500, dragged lower by IT and financial services stocks.

The S&P BSE Sensex slumped 705.97 points, or 0.87%, to 80,080.57, while the Nifty 50 shed 211.15 points, or 0.85%, to 24,500.90. In two trading sessions, the Sensex fell 1.90% and the Nifty dropped 1.86%.

Infosys (down 1.95%), HDFC Bank (down 1.55%) and ICICI Bank (down ...