Indian markets are likely to open negative tracking global indices and SGX Nifty.

U.S. stocks gave back some ground during the trading day on Friday. The major averages initially moved to the upside but pulled back into negative territory as the session progressed. The Dow Jones fell 0.4 percent to 25270 and the Nasdaq slumped 1 percent to 7356.

U.K. shares joined a global relief rally on Friday after U.S. President Donald Trump and Chinese President Xi Jinping have expressed optimism about resolving their bitter trade disputes. The benchmark FTSE 100 was up by 0.8% to close at 7167.

On domestic front Indian shares ended Fridays session sharply higher and the rupee gained more than 70 paise to race past 73 mark in the afternoon for the first time in over 1 month as global trade tensions eased and oil prices tumbled to close at near sevenmonth low overnight helping soothe investor concerns over inflation and fiscal slippage. The BSE Sensex was up by 1.7% to 35011.

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