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

U.S. stock moved sharply lower over the course of the trading day on Friday. The major averages showed a substantial move back to the downside following the rebound from early weakness seen in the previous session. The Dow tumbled 2.2 percent to 24388 and Nasdaq plunged by 3.1 percent to 6969

U.K. shares rose sharply on Friday after sharp losses the previous day following the arrest of chief financial officer of Chinese tech giant Huawei. The benchmark FTSE 100 was up by 1.6% to 6810.

On domestic front Indian shares rose sharply on Friday to broke a threeday losing streak after OPEC ended talks in Vienna without a deal on oil production cuts and media reports suggested that Warren Buffetts Berkshire Hathaway Inc plans to pick up a stake in privatesector lender Kotak Mahindra Bank. During the last trading session the BSE Sensex was up by 1% to 35673.

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