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

US stocks moved back to the upside during trading on Thursday following the modest pullback seen over the two previous sessions. Buying interest was somewhat subdued although the major averages all ended the day in positive territory. The Dow moved up by 0.4 percent to 26107 and the Nasdaq increased by 0.6 percent to 7837.

U.K. stocks were modestly higher on Thursday and the pound slipped as investors kept a close eye on a leadership contest in Britain that may lead to a disorderly departure from the European Union. The FTSE 100 was up by 0.4 percent to 7393.

On domestic front Indian shares ended largely unchanged on Thursday as mixed global cues and a fourth consecutive monthly increase in retail inflation dented sentiment. During the trading session benchmark BSE Sensex was flat at 39741.

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