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

U.S. Stocks showed a significant move back to the downside during the last trading session. The major averages pulled back sharply in morning trading and remained firmly negative throughout the afternoon. The Dow Jones was down by 0.8% to 24706 and the Nasdaq ended was ended down by 0.8% to 7351.

U.K. shares were modestly higher on Tuesday after a government report showed the U.K. jobless rate in the three months to March reached the lowest point since 1975. The benchmark FTSE 100 was marginally higher by 0.2% at 7722.

On domestic front Indian shares gave up initial gains to end marginally lower after the BJP emerged as the singlelargest party in Karnataka but fell short of majority to form the next government on its own. The BSE Sensex closed flat at 35544.

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