India’s BSE Sensex closed about 0.4% down at 76,957.3 on Monday, reversing the prior session's gains, as rising crude oil prices amid escalating US-Iran tensions and concerns over US interest rates kept investors cautious. India’s new closing-price mechanism for stocks with futures and options, coupled with an MSCI index rebalancing, also added to market pressure. Adani Ports, ITC, Bharti Airtel, HDFC Bank, Infosys and Kotak Mahindra Bank were among the biggest laggards. Heavyweight HDFC Bank fell about 1.5% after its CEO Sashidhar Jagdishan said he would not seek a third term in October.On the upside, Sun Pharma, ICICI Bank, Axis Bank and State Bank of India posted the biggest gains.