Sensex and Nifty opened lower for a second session as weakness in banks and pharma stocks, rising crude prices and Middle East tensions weighed on sentiment. Sensex fell 120 points and Nifty slipped below 24,050, while mid- and small-cap stocks also declined. FIIs sold nearly ₹8,000 crore on August 31, while DIIs bought ₹4,586 crore.