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

The US stocks moved sharply lower during trading on Wednesday resuming their downward trajectory following the notable rebound in the previous session. With the steep drop on the day the major averages largely offset the strong gains. The Dow nosedived by 5.9 percent to 23553 and the Nasdaq tumbled by 4.7 percent to 7952.

UK stocks moving higher on Wednesday after the Bank of England cut interest rates by half a percent to support businesses affected by the economic uncertainty amid the coronavirus outbreak. The benchmark FTSE 100 rose by 0.9 percent to 6013.

On domestic front Indian markets pared early gains to finish on a flat note on Wednesday after U.S. markets rallied back from the worst rout since the financial crisis overnight on stimulus expectations. The benchmark BSE Sensex inched up by 0.2 percent to 35697.

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