The domestic equity benchmark indices declined 0.40 percent on Monday tracking softer global cues amid <a href="https://www.mid-day.com/news/world-news/article/donald-trump-says-iran-cannot-have-nuclear-weapons-claims-its-navy-air-force-and-leaders-are-gone-23647566" target="_blank" rel="none noopener">renewed tensions in West Asia</a> that caused a spike in crude oil prices over possible supply disruptions.
<h2>Market movement</h2>
The 30-share BSE Sensex shed 307.24 points, or 0.40 per cent, to settle at 76,957.27. The 50-share NSE Nifty slipped 95.25 points, or 0.39 per cent, to end at 24,080.40.
"Indian benchmark indices remained under pressure throughout the session. Despite multiple attempts to recover from the day's lows, buying momentum failed to sustain, keeping the indices in a narrow range with a negative bias. Volatility increased further during the final hour amid MSCI rebalancing-related activity, leading to sharper intraday swings," Bajaj Broking Research said.&nbsp;
From the Sensex pack, Sun Pharma, ICICI Bank, Axis Bank, State Bank of India and Bajaj Finserv were among the gainers, while Adani Ports, ITC, Bharti Airtel, HDFC Bank, Infosys and Kotak Mahindra Bank were the major laggards. <a href="https://www.mid-day.com/business/business-news/article/hdfc-bank-stock-rises-nearly-3-per-cent-after-md-ceo-jagdishan-steps-down-23647586" target="_blank" rel="none noopener">HDFC Bank stocks which rose 3 per cent during the day</a>, pared their gains and settled 1.53 per cent lower from previous close.
"Among sectors, some buying interest was seen in selective banking stocks, while media and metal indices corrected sharply, shedding over 2.5 percent," Shrikant Chouhan, Head Equity Research, Kotak Securities said.
On Friday, driven by IT stocks, the Sensex surged 330.92 points, or 0.43 per cent, to settle at 77,264.51, while the Nifty gained 84.80 points, or 0.35 per cent, to end at 24,175.65.&nbsp;
<h2>Weak global cues&nbsp;</h2>
"Indian equities are likely to maintain a cautious bias as renewed US-Iran tensions and rising crude prices weigh on sentiment. Brent crude rose 3.7 per cent to around USD91 per barrel after fresh US strikes on Iran, reversing the recent easing and bringing inflation, the rupee and external balances back into focus," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.&nbsp;
According to news agency PTI, Brent crude, the global oil benchmark, jumped 3.63 per cent to USD 91.30 per barrel, while F<a href="https://www.mid-day.com/business/stock-market/article/foreign-institutional-investors-offload-equities-worth-rs-7180-crore-amid-west-asia-crisis-23641524" target="_blank" rel="none noopener">oreign Institutional Investors (FIIs)</a> offloaded equities worth Rs 5,039.80 crore on Friday.
"Rising crude oil prices and bond yields have renewed concerns over energy-led inflation and a higher interest rate environment, which could weigh on the earnings cycle. Meanwhile, the Federal Reserve chairman's recent comments after the Jackson Hole address have increased expectations of a potential September rate hike, keeping global yields elevated and contributing to near-term volatility in emerging markets," Vinod Nair, Head of Research, Geojit Investments said.
In Asian markets, South Korea's Kospi and Shanghai's SSE Composite settled higher, while Japan's Nikkei and Hong Kong's Hang Seng index declined.
(With inputs from PTI)

Sensex declined Sensex shed 307.24 points, or 0.40 per cent, to settle at 76,957.27, while the Nifty lost 95.25 points, or 0.39 per cent, to end at 24,080.40

Sensex, Nifty decline amid renewed US-Iran conflict, elevated crude oil prices

Bank of Baroda to hire local officers across 20 states and union territories

The 30-share BSE Sensex shed 307.24 points, or 0.40 per cent, to settle at 76,957.27. The 50-share NSE Nifty slipped 95.25 points, or 0.39 per cent, to end at 24,080.40

Sensex loses over 300 points, Nifty slips 95 points amid geopolitical uncertainties

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