The Indian equity markets are likely to open lower on Thursday, extending losses for a third straight session, as the escalating conflict in West Asia keeps crude oil prices above USD 110 per barrel and fuels inflation concerns.
GIFT Nifty futures were trading at 22,648.5 around 8:30 am, indicating a weak start for the benchmark Nifty, which closed at 22,811.35 on Wednesday.
The Nifty and Sensex have declined 1.5 per cent and 1.4 per cent, respectively, so far this week.
Brent crude futures rose 1.3 per cent to USD 110.3 per barrel after further attacks in Saudi Arabia by Yemen's Houthi rebels prompted the United States to order some diplomats and their family members to leave its missions in the kingdom.
Foreign institutional investors (FIIs) turned net buyers on Wednesday, purchasing equities worth Rs 1,022.32 crore.