Indian benchmark indices — Sensex and Nifty 50 — are likely to make a gap-down opening in the trading session of October 19, after weakness in IT and financials kept the markets under pressure in the previous session.

The domestic market is tracking a selloff in global stocks as worries of escalating tensions in the Middle East triggered volatility in oil prices.

India's GIFT Nifty was down 0.11% at 19,572.50 as of 8:07 am. The Nifty 50 closed 0.71% lower on October 18 at 19,671.10.

All three major Wall Street indexes lost over 1% after a call for oil embargo on Israel by Iran triggered a spike in crude prices on fears of a spillover of the Israel-Hamas clashes into a wider conflict.

Asian markets declined, with the MSCI Asia ex-Japan index falling over 1%.

Brent crude futures rose to an intraday high of $93 per barrel on Wednesday, their highest since the beginning of the Middle East conflict.

Back home, Wipro, LTIMindtree, IndusInd and Bajaj Auto were among the stocks that reported earnings for the quarter ended September 30, and therefore the stocks are likely to react.

Meanwhile, HUL, ITC, Nestle and UltraTech, among others, will post their quarterly results later in the day.

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