India’s BSE Sensex closed 0.2% down at 75,238 on Friday, halting a two-day advance as late selling in metals and oil and gas stocks wiped out most of the day’s gains. Investors turned more cautious amid growing inflation concerns. Oil prices surged as Middle East tensions and Strait of Hormuz uncertainties persisted, with a nationwide fuel price hike adding further pressure. India raised petrol and diesel prices for the first time in four years by 3 rupees per litre, or more than 3%, to recoup some of the losses incurred due to higher global crude oil prices. At the same time, foreign outflows continued. Among individual stocks, Tata Steel (-2%) led the losses, followed by Eternal (-1.9%), Reliance Industries (-1.9%) and UltraTech Cement (-1.8%). On the upside, Infosys and Tech Mahindra advanced the most, risin 2.1% and 2%, respectively.