Domestic equity markets opened sharply lower on Monday, with benchmark indices declining 1 per cent in morning trade amid elevated crude oil prices and rising geopolitical tensions in West Asia following the conflict between the US and Iran. 

Sensex declined as much as 892 points or 1.18 per cent to hit an intraday low of 74,345 in early trade, while Nifty slipped 272 points or 1.15 per cent to 23,371.