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

The US stocks showed wild swings over the course of the trading session on Tuesday before eventually finishing the day sharply higher. The Dow escalated by 4.9 percent to 25018 and the Nasdaq jumped by 5 percent to 8344.

UK stocks rose sharply on Tuesday as oil rebounded from its biggest singleday rout in 30 years and U.S. President Donald Trump said he would take major steps to gird the economy against the impact from the coronavirus outbreak. The benchmark FTSE 100 surged by 3.7 percent to 6189.

On domestic front Indian markets were closed on Tuesday because of Holi. On Monday shares ended deep in the red on Monday amid a global market rout as investors fretted about a rapidly spreading coronavirus and a free fall in oil prices sparked by top exporter Saudi Arabia slashing price. The benchmark BSE Sensex nosedived by 5.2 percent to 35635.

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