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Domestic equity benchmarks opened lower on Monday amid weakness across Asian markets and a sharp rise in crude oil prices following renewed tensions in the Middle East.

The Sensex opened at 77,130.73, down 133.78 points or 0.17 per cent, while the Nifty declined 58.10 points or 0.24 per cent to 24,117.55.

The Nifty Metal index was the top loser, falling 1.70 per cent, followed by Nifty IT, which declined 1.32 per cent. Nifty Media and Nifty PSU Bank also fell by up to 1 per cent. Realty, cement, chemicals and FMCG stocks declined between 0.73 per cent and 1 per cent. Nifty Private Bank was marginally positive.

Market sentiment was also affected by comments from Fed chief Kevin Warsh, which raised concerns about the possibility of tighter monetary policy if inflation remains elevated. Rising bond yields could put further pressure on equities.

Meanwhile, renewed tensions between the US and Iran pushed Brent crude above the $90-a-barrel mark. Brent crude rose more than 2 per cent to $90.67 a barrel, while WTI gained 2.06 per cent to $85.09.

Investors are also watching HDFC Bank amid speculation over the successor to CEO Sashidhar Jagdishan, while the upcoming MSCI index rejig could add to market volatility.

Asian markets remained weak, with Japan’s Nikkei falling more than 1 per cent, Hong Kong’s Hang Seng declining 0.7 per cent and South Korea’s KOSPI slipping more than 1 per cent.