Mumbai, March 2 -- The key equity benchmarks closed sharply lower on Monday as investors adopted a cautious stance amid weak global cues. Sentiment remained under pressure due to escalating geopolitical tensions following the US-Israel attacks on Iran, which dampened risk appetite. From a market perspective, the primary concern remains the energy risk arising from the sharp surge in crude oil prices. Market participants also tracked movements in metal prices for further direction. The Nifty slipped below the 24,900 mark, weighed down by losses in auto, consumer durable and energy stocks.

The S&P BSE Sensex tanked 1,048.34 points or 1.29% to 80,238.85. The Nifty 50 index dropped 312.95 points or 1.24% to 24,865.70.

Larsen & Toubro (down ...