Indian equity markets are likely to open lower on Thursday as Brent crude oil prices have surged to $120 per barrel, driven by heightened tensions between the United States and Iran. Former President Donald Trump has announced plans to maintain the blockade on the Strait of Hormuz, further contributing to market anxiety. Investors are also awaiting exit poll results from five Indian states, which are expected to sway market sentiments. This trading day is particularly significant as it precedes a market holiday on May 1, which could lead to increased volatility as traders position themselves ahead of the break. Overall, the combination of rising oil prices and political developments is creating a cautious outlook for investors in the Indian stock market.