Mumbai/IBNS, March 12 -- India's equity benchmarks extended their losses on Thursday morning as heavy selling followed the opening bell amid rising crude oil prices triggered by the escalating West Asia conflict, media reports said.

On Wednesday, the Sensex had closed more than 1,300 points lower at 76,863.71, while the Nifty 50 ended at 23,866.85, down 394.75 points.

Meanwhile, in a major diplomatic relief for India amid the Middle East crisis, Iran has allowed Indian oil tankers to pass through the Strait of Hormuz, easing concerns over a potential crude supply disruption for the country.

India has reportedly joined countries such as China and Russia that have been exempted, even as the United States, Europe, and Israel continue to f...