Indian equity markets traded cautiously on Monday, with benchmark indices falling 1 per cent each in early trade after US and Iran failed to reach an agreement on a peace proposal related to the West Asia conflict. Sensex declined as much as 943 points or 1.22 per cent to hit an intraday low of 76,384 in morning trade, while Nifty fell 280 points or 1.15 per cent to 23,897.