Mumbai, May 5 -- The equity markets came under pressure on Tuesday, with benchmark indices opening lower as renewed hostilities in the Strait of Hormuz pushed crude oil prices higher, denting investor sentiment.

The Nifty 50 index opened at 24,052.60, declining 66.70 points or 0.28 per cent, while the BSE Sensex opened at 77,102.88, down 166.52 points or 0.22 per cent.

Market participants said the weakness was largely driven by a surge in oil prices and rising geopolitical tensions in the Middle East, which have raised concerns about inflation and global economic stability.

Ajay Bagga, Banking and market expert, told ANI that the escalation in tensions has significantly increased market risks.

"Oil prices shot up and bond yields spike...