May 8 (BNP): Indian equity markets closed lower on Friday as rising crude oil prices and escalating geopolitical tensions triggered caution among investors. Benchmark indices Sensex and Nifty slipped amid fears that surging energy costs could increase inflationary pressure and impact global economic growth.

Brent crude prices crossed the USD 100 per barrel mark after renewed tensions in key oil-producing regions raised concerns over supply disruptions. The spike in oil prices dampened market sentiment globally, with Asian and European markets also witnessing volatility.

Back home, the BSE Sensex declined as investors booked profits in banking, auto, and IT stocks, while the NSE Nifty also traded in the red for most of the session. Analysts said that higher crude prices remain a major concern for India, which imports a significant portion of its oil requirements.

Market experts noted that sustained crude prices above USD 100 could widen India’s trade deficit, pressure the rupee, and increase input costs for several sectors. Investors are also closely monitoring global developments, including central bank commentary and geopolitical updates, for further market direction.

Despite the weakness, selective buying was seen in energy and defensive sectors, helping limit deeper losses. Traders now await upcoming economic data and corporate earnings for fresh cues on market momentum.

Analysts believe volatility may continue in the near term as global uncertainties and commodity price movements keep investors cautious.