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

The US stocks showed a lack of direction over the course of the trading session on Tuesday extending the lackluster performance seen over the two previous sessions. Despite the choppy trading the techheavy Nasdaq ended the session at new record closing high. While the Nasdaq was up by 0.3 percent to 8456 the Dow remained unchanged at 27691.

The UK stocks eked out modest gains on yesterday and the pound inched higher as investors awaited further developments out of the ongoing general election campaign. The FTSE 100 rose by 0.3 percent to 7347.

On domestic front Indian markets were closed on Tuesday on account of Gurunanak Jayanti. On Monday shares fluctuated before finishing marginally higher on Monday as banking stocks gained ground offsetting losses in the information technology and healthcare sectors. The benchmark BSE Sensex gained 21 points to end at 40345.

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