Indian equity benchmarks opened lower on Monday after PM Narendra Modi urged citizens to conserve fuel and avoid buying gold for a year amid rising energy prices. The shares of major jewellers fell sharply. Senco Gold dropped 8.98% to ₹332.60, Titan fell 5.34% to ₹4,268.10, while Kalyan Jewellers and PC Jeweller declined 7.43% and 3.89% to ₹393.00 and ₹9.13, respectively.