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

US stocks saw modest strength for much of the trading session on Thursday before giving back ground going into the close. The major averages all slid into negative territory with the Dow and the Nasdaq pulling back off the record intraday highs set in early trading. The Dow slipped 0.2 percent to 30992 and the Nasdaq edged down 0.1 percent to 13113.

U.K. stocks advanced on Thursday as a set of positive earnings updates as well as hopes of a large stimulus under incoming U.S. President Joe Biden helped outweigh concerns about rising Covid19 infections. The benchmark FTSE 100 rose by 0.4 per cent to 6775.

Indian shares hit fresh record highs on yesterday even as IT stocks underperformed despite robust earnings results from Infosys and Wipro The benchmark SP BSE Sensex was up by 0.2 per cent to 49584.

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