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

The US stock turned mixed over the course of the trading session on Tuesday. Traders largely seemed reluctant to make significant moves ahead of Congressional testimony by Federal Reserve Chairman Jerome Powell. The Dow slid 0.1 percent to 26783 while Nasdaq slumped 0.5 percent to 8141.

U.K. stocks fell on Tuesday and the pound hovered near its lowest level in six months against both the dollar and the euro hit by fears of a nodeal Brexit and mounting signs of slowing economy. The FTSE 100 was down by 0.4 percent to 7521.

On domestic front Indian shares ended largely unchanged on Tuesday after steep losses in the previous session on concerns over certain Union Budget proposals including the raising of tax incidence on super rich. The benchmark BSE Sensex was up by 0.03 percent to 38730.

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