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

The US stocks climbed to new record intraday highs in morning trading on Wednesday but gave back some ground over the course of the session. The major averages pulled back well off their best levels although the Dow and the SP 500 still ended the session at new record closing highs. The Dow climbed percent to 29030 while the Nasdaq remained flat at 9251.

UK stocks edged up slightly on Wednesday even as trade optimism appears to be waning after a top U.S. official said tariffs on China would stay until a Phase 2 deal is completed.The benchmark FTSE 100 was up by 0.2 percent to 7629.

On domestic front Indian markets ended lower on Wednesday after hitting record highs in the previous two sessions. The benchmark BSE Sensex was down by 0.2 percent to 41872.

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