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Indian shares are set to open lower on Thursday, tracking weakness in global stocks on worries over elevated U.S. Treasury yields and the Middle East conflict.

India's GIFT Nifty was down 0.38% at 19,104 as of 8:07 a.m. IST, marginally below Nifty 50's Wednesday close of 19,122.15.

U.S. stocks tumbled on Wednesday as Alphabet shares slid after disappointing earnings and as U.S. Treasury yields rose, reviving fears that interest rates could stay higher for longer. [.N]

Broader Asian markets also fell, with China's blue-chip index opening 0.51% lower and Japan's Nikkei declining over 2%. [.SS] [.T]

Brent oil rose above $90 per barrel on Wednesday and was hovering around those levels in Asia hours on Thursday, after Israel Prime Minister Benjamin Netanyahu said the country was preparing for a ground invasion of Gaza.

Israel has, however, agreed to delay the ground invasion so that the U.S. can rush missile defenses to the region to protect its troops, the Wall Street Journal reported, citing U.S. and Israeli officials.

Higher oil prices are a negative for importers of the commodity like India.

The Nifty 50 and Sensex have fallen for five sessions in a row, their longest losing streak since February.

Markets also await reactions to the results of private lender Axis Bank and software services provider Tech Mahindra on Wednesday.

Axis Bank beat September-quarter profit estimates, supported by strong loan growth while asset quality improved sequentially.

Tech Mahindra, on the other hand, posted its biggest fall in profit in over 16 years, as high costs and tightened client spending hurt earnings.

Foreign institutional investors (FIIs) sold 42.37 billion rupees ($509.51 million) worth of shares on a net basis on Wednesday while domestic institutional investors (DIIs) bought a net 35.69 billion rupees of shares.

STOCKS TO WATCH:

** Major Earnings: Asian Paints, ACC, Punjab National Bank, Colgate-Palmolive India.

** Adani Group companies: India's accounting regulator is probing an EY member firm that audits five Adani group companies, Reuters reported, citing a source familiar with the matter. Adani Group rejected suggestions that the company has flouted regulations.

** Jubilant Foodworks: Co beats second quarter profit estimates, helped by its move to cut costs and launch cheaper pizzas.

** Chennai Petroleum Corp: Co reports rise in September quarter profit.