New Delhi, July 28 -- Equity benchmarks have settled substantially lower on Monday, kicking off the week on a dampening note.

The benchmark indices continued to face selling pressure at higher levels, with analysts indicating that the India-US new interim deal is unlikely to be finalised before the August 1 deadline. On Sunday, the US administration indicated that the August 1 deadline wouldn't be extended further.

Sensex closed at 80,891.02 points, down 572.07 points or 0.70 per cent, while Nifty closed at 24,680.90 points, down 156.10 points or 0.63 per cent.

Among sectors, pharma stocks provided some support with relative strength, while realty, media, banks, metals, and consumer durables were under pressure throughout the session....