MUMBAI: Domestic equity benchmarks opened the week sharply lower on Monday as escalating tensions in West Asia and surging crude oil prices weighed on investors' sentiment.
Sensex fell 1, 555.62 points or 2.08 per cent to 72, 977.34 in early trade, while Nifty declined 479.95 points or 2.07 per cent to 22, 634.55.
Sector-wise, metal, PSU bank and auto indices led the decline, falling up to 3 per cent in early trade. Stocks such as Tata Steel, Hindalco Industries, HDFC Bank, JSW Steel, Bajaj Finance and Shriram Finance were among the top laggards. All the sectors were in the negative territory in early trade.
Market participants turned risk-averse amid no signs of de-escalation in the ongoing US-Israel-Iran conflict, now in its fourth week, raising concerns over prolonged geopolitical instability.