Mumbai, Aug. 18 -- The Indian benchmark indices opened on a bearish note on Tuesday, with Sensex sliding over 300 points and Nifty below the 24,300 level as elevated crude oil prices and renewed geopolitical concerns continue to weigh on investors' sentiment.

Brent crude climbed USD 91 per barrel while WTI topped USD 85 after President Trump said he would not extend the expiring US-Iran memorandum and threatened military action against Oman over alleged interference in the Strait of Hormuz. Tanker traffic through the Strait has fallen to a fraction of pre-war levels.

Amid this backdrop, the benchmark indices opened with a gap down; Sensex opened at 77,418.97 against the previous close of 77,728.16 and was trading at around 77,442.77, do...