The ongoing West Asia conflict involving Iran, Israel and the US has raised fears that energy supplies could be disrupted. If oil supply tightens, crude prices may rise further.

Gift Nifty futures were trading at 24,649 at around 8:10 am, indicating that the benchmark Nifty 50 may open below Thursday’s closing level of 24,765.9.

The S&P BSE Sensex was down 566.31 points at 79,449.59, while the NSE Nifty50 fell 164.85 points to 24,601.05 as of 11:24 am. Sensex and Nifty shed over half a percent.