The BSE Sensex dropped 133 points, or 0.2%, to 81,338 in early trade on Monday, retreating for the third consecutive session. The decline was triggered by disappointing Q1 results from Kotak Mahindra Bank and lingering uncertainty over U.S.–India trade negotiations. Kotak Mahindra Bank plunged 6.3% after reporting weaker-than-expected Q1 earnings. Traders also remained cautious ahead of the US Federal Reserve’s monetary policy decision and key US jobs data due later this week. Investors were additionally awaiting Q1 earnings results from around 20 companies expected to report later today, including Adani Green, Bharat Electronics, and Nippon Life. However, a rise in US stock futures - following the US–EU trade agreement - helped limit losses. Apart from the banking sector, technology and metals also dragged on the index, with notable declines from TCS (-1.2%), Titan (-0.9%), Mahindra & Mahindra (-0.8%), and Bharti Airtel (-0.7%). Meanwhile, IndusInd Bank and Axis Bank fell 0.7% each.