The 30-share BSE Sensex declined 331.62 points, or 0.43 per cent, to settle at 76,059.77. During the day, it tanked 916.96 points, or 1.20 per cent, to 75,474.43.
The 50-share NSE Nifty dipped 102.15 points, or 0.43 per cent, to end at 23,767.45.
Asian markets fell sharply on Friday as soaring crude oil prices rattled investors and reignited fears of a fresh inflation shock. Brent crude traded around $100.85 a barrel after surging 7% overnight to a two-month high, driven by supply concerns following attacks on Saudi tankers in the Red Sea and disruptions around the Strait of Hormuz.
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