Mumbai, June 1 -- The headline equity benchmarks ended sharply lower on Monday, extending losses for a fourth straight session. Sentiment was hit by escalating tensions between the US and Iran, a surge in crude oil prices amid concerns over potential disruptions in the Strait of Hormuz, continued foreign institutional investor (FII) selling, and rising US bond yields. Broader markets also came under pressure, with the midcap and smallcap indices declining around 1% each. The Nifty settled below the 23,400 mark. FMCG stocks led the decline, while IT shares bucked the trend on buying interest.

The S&P BSE Sensex dropped 508.40 points or 0.68% to 74,267.34. The Nifty 50 index fell 165.15 points or 0.70% to 23,382.60. In four consecutive tra...