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

The US stocks regained some ground over the course of the trading day on Wednesday but remained firmly negative. With the drop on the day the major averages partly offset the strong gains posted in the previous session. The Dow plunged 1.9 percent to 23504 and the Nasdaq tumbled 1.4 percent to 8393.

UK stocks fell again on Wednesday as oil prices plunged and investors fretted about a longer lockdown in the country. The FTSE 100 fell by 2.1 percent to 5668.

On domestic front Indian shares ended a choppy session lower on Wednesday as investors pondered on the economic implications of the extended nationwide lockdown till May 3. The benchmark BSE Sensex fell sharply by 1.0 per cent to 30380.

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