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

U.S. stocks showed a lack of direction over the course of the trading session. The major averages spent the day bouncing back and forth across the unchanged line. The Dow Jones rose 0.1% to end at 24884. The NASDAQ gained 0.6% to close at 7371.

U.K. stocks extended gains from the previous session as worries about an imminent trade war eased and Prime Minister Theresa May said she was confident of reaching a good Brexit deal. The FTSE 100 is up by 0.9% to end at 7181.

On domestic front Indian shares fell sharply with banking stocks coming under heavy selling pressure once again after the CBI detained the vice president of Gitanjali Group and the Serious Fraud Investigation Office (SFIO) summoned ICICI Bank chief Chanda Kochhar and Axis Banks Shikha Sharma in relation to the multicrore Punjab National Bank (PNB) fraud case.

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