MUMBAI: Domestic equity benchmarks opened sharply lower on Friday, tracking weak global cues and elevated Brent crude prices amid fading hopes of a resolution to the Iran conflict.
Nifty opened at 23, 173.55, down 132.90 points or 0.57 per cent, while the Sensex fell around 400 points to 74, 883.79 in early trade.
Broader markets also remained under pressure, with midcap and smallcap indices traded lower.
Sectorally, most indices traded in the red, led by realty, metal, PSU banks and auto stocks, which fell up to 1 per cent. Financials and consumer durables also witnessed selling pressure.
However, IT and oil and gas stocks bucked the trend and posted modest gains.