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

U.S. stocks saw some further downside during trading on Wednesday. The techheavy Nasdaq showed a particularly steep drop although the Dow managed to close slightly higher. The Dow Jones inched up 0.1 percent to 25974 and the Nasdaq tumbled 1.2 percent to 7995.

UK stocks followed global peers lower on Wednesday as increased trade tensions between the U.S. and its key partners as well as the spreading selloff in emerging market currencies dented investors appetite for risk. The FTSE 100 was down 0.51 percent at 7419.

On domestic front Indian stocks closed lower for the sixth straight session as a falling rupee disappointing service sector data and weak global cues on concerns about international trade conflicts and rising inflation in emerging markets kept investors risk appetite in check. The BSE Sensex dipped by 0.4% to 38018.

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