MUMBAI: Domestic equity benchmarks traded in negative territory early on Monday over fresh US-Iran conflict in the Strait of Hormuz, despite positive cues from global markets and positive earnings from banking firms.
Sensex traded at 78, 261, down 0.29 per cent or 232 points in early trade, while Nifty declined as much as 0.46 per cent, or over 100 points, to 24, 241 amid selling pressure in realty, metal, and energy stocks.
Hindalco Industries, TMPV, Eternal, HDFC Life, HDFC Bank, BEL, Bajaj Finserv and Kotak Mahindra Bank were among the top losers in early trade.
"The broader message remains clear: momentum is building, but conviction continues to depend on global stability. Until greater clarity emerges on the geopolitical front, markets are likely to remain reactive, with opportunities driven more by tactical positioning than by a sustained directional trend, " said analysts.