New Delhi, Aug. 11 -- Indian markets opened lower amid oil fears, as fresh tensions in the Strait of Hormuz pushed crude prices up, creating uncertainty across global indices. The BSE SENSEX stood at 78,347.74 points, down 194.70 points or 0.25 per cent, while the NSE NIFTY 50 stood at 24,539.75 points, down 44.05 points or 0.18 per cent.

Devarsh Vakil, Head of Prime Research at HDFC Securities, highlighted the international developments impacting global risk appetite.

"US stocks pulled back from record highs Monday as renewed uncertainty over the Strait of Hormuz reignited inflation fears ahead of this week's CPI report. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closed modestly lower, snapping a two-week rally...