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

The US stocks showed another substantial move to the downside during the trading day on Thursday following the sharp pullback seen in the previous session. With the selloff on the day the Dow recorded its biggest oneday percentage drop since the stock market crash of 1987 and the Nasdaq and the SP 500 joined the blue chip index in bear market territory. The Dow plummeted by 10 percent to 21200 and the Nasdaq tumbled by 9.4 percent to 7202.

UK stocks slumped on Thursday to extend a global rout with a plunge in oil prices on the prospect of a price war between Saudi Arabia and Russia as well as concerns over enhanced travel restrictions weighing on markets. The benchmark FTSE 100 plunged by 5.9 percent to 5532.

On domestic front Indian markets witnessed an unprecedented movement on Thursday to enter bear market territory after the World Health Organization called the corona virus spread a pa

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