Stock benchmarks Sensex and Nifty plunged more than 1 percent for the second straight day on Friday, dragged down by strong selling in banking, financial and oil stocks amid outflows by foreign funds.

Massive selling of Adani Group shares also contributed to the overall bearish trend.

The 30-item BSE benchmark fell 874.16 points, or 1.45 percent, its biggest one-day decline in more than a month to settle at 59,330.90. Over the day, it plunged 1,230.36 points, or 2.04 percent, to…