India’s BSE Sensex closed virtually unchanged at 78,520 on Monday, hovering near six-week highs, as strong bank earnings were offset by higher crude oil prices and renewed geopolitical tensions in the Middle East. Fresh escalation between the US and Iran over the weekend, including disruptions to shipping through the Strait of Hormuz, added to uncertainty over negotiations and the ceasefire trajectory. Meanwhile, the Q4 earnings season remained in focus. Banking and select large-cap stocks supported gains, while the IT sector weighed on the index. State Bank of India rose 2.5%, leading banking gains on expectations of stronger earnings, while ICICI Bank added 0.7% after beating quarterly estimates. HDFC Bank slipped 0.6% on weaker-than-expected net interest margins. Among other stocks, Mahindra & Mahindra rose 0.6% on positive broker commentary on its SUV pipeline, while HCL Technologies and Infosys fell 1% and 0.5%, respectively.