Mumbai, Aug. 8 -- The headline equity indices traded with significant losses in the afternoon trade witnessing selling pressure as investors remained cautious amid concerns over the impact of Trump's tariff decision. Market sentiment turned risk-averse, with participants adopting a risk-off approach. Going forward, investors will closely monitor crude oil prices, FII activity and development on the tariff front.

The Nifty tanked below the 24,450 mark. Media and oil & gas shares advanced while other all the sectoral indices traded in the red on the NSE.

At 13:30 IST, the barometer index, the S&P BSE Sensex dropped 578.81 points or 0.72% to 80,044.45. The Nifty 50 index declined 175.05 points or 0.71% to 24,421.10.

In the broader market...