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

U.S. stocks fluctuated over the course of the trading session on Friday before ending the day modestly lower. With the drop on the day the Nasdaq and the SP 500 extended the pullback seen over the past few sessions. The Dow Jones and the Nasdaq dipped by 0.3% each to end at 25916 and 7902 respectively.

UK stocks fell slightly on the last trading session as trade worries persisted ahead of a pending decision on US200 billion of Chinese goods and the pound strengthened after the release of upbeat housing data. The FTSE 100 was down 0.6% at 7275.

On domestic front Indian stocks closed higher for the second day running on Friday after an overnight fall in oil prices and further recovery in rupee. Oil prices held steady today after falling over 1 percent on Thursday after the release of mixed inventory data. The BSE Sensex was up by 0.4% to 38390.

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