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Escalating geopolitical tensions over the weekend weighed heavy among investors and overshadowed global markets on Monday. Traders expect Indian equities to remain volatile this week. The United States' attack on Iran's nuclear facilities on Saturday added to the negative sentiment prevalent in the market as Israel-Iran war intensified.

Notably, Indian markets remained strong last week. Despite the escalating tensions, Indian equities ended trading last week on a strong note. On Friday, the BSE Sensex climbed 1,046.30 points, or 1.29 per cent, to settle at 82,408.17, while the NSE Nifty jumped 319.15 points, or 1.29 per cent, and ended at 25,112.40.

Over the week, the Sensex gained 1,289.57 points (1.58 per cent), and the Nifty added 393.8 points (1.59 per cent), signalling resilient investor sentiment even amid Middle East concerns.

GIFT Nifty stood marginally lower at 24,998.50, as of 8:52 AM, indicating a muted start for the stock markets on Monday. Following the sentiment, in the pre-open trading hour, the Sensex tanked over 700 points and tested 81,700, while the Nifty took a hit of more than 170 points and fell to 24,940.

As markets opened, the domestic indices plunged reflecting the heavy sentiment prevalent among traders. The Sensex stood at 81,889, plummeting over 500 points, while the Nifty traded at 24,976, declining 136 points.

On the 30-share Sensex, Bharat Electronics and Bharti Airtel remained the only exception in green. On the other hand, the laggards were dominated by Infosys, HCL Tech, Hindustan Unilever, Eternal, and PowerGrid.