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

US stocks were hammered yet again as markets quickly tanked after an initial move higher after amid lingering anxiety over potential interest rate hikes. The Dow Jones ended on downside front of 4.1% to close at 23860 and the Nasdaq Composite edged down to 3.9% to 6777.

U.K. shares fell on last trading session as investors exercised some caution after sharp gains in the previous session and looked ahead to the Bank of Englands monetary policy decision for directional cues. The FTSE 100 was down by 1.5% to close at 7171.

On domestic front Indian shares opened modestly higher after oil prices fell
2.5 percent to close at a onemonth closing low the previous day helping ease investor concerns surrounding inflation and rising twin deficits. The Sensex ended on an upside front of 1.0% at 34413 while the Nifty ended at 10577 with an upside of 1.0%.

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