The Indian stock market is anticipated to open lower on Thursday as benchmark indices Sensex and Nifty 50 faced significant declines amid escalating crude oil prices due to tensions in the Strait of Hormuz. On Wednesday, the Sensex fell 756.84 points, or 0.95%, closing at 78,516.49, while the Nifty 50 decreased by 198.50 points, or 0.81%, to settle at 24,378.10. This downturn follows a three-session winning streak and reflects investor caution in light of the ongoing US-Iran conflict. Despite this, Asian markets saw gains, with Japan's Nikkei 225 reaching a record high of 60,013.98 and South Korea’s Kospi advancing to 6,538.72. The US stock market also rallied, with the S&P 500 and Nasdaq closing at record highs, driven by positive corporate earnings and optimism regarding the US-Iran ceasefire extension. Crude oil prices surged, with Brent crude rising to $102.25 per barrel and US West Texas Intermediate crude increasing to $92.13. The Reserve Bank of India's recent Monetary Policy Committee minutes highlighted concerns over inflation due to the West Asia conflict, which could pose challenges for the Indian economy.