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

U.S. Stocks showed a lack of direction over the course of the trading session. The major averages spent the day bouncing back and forth across the unchanged line before closing modestly lower. The Dow Jones was down by 0.2% to 24713 and the Nasdaq ended was closed down by 0.2% to 7382.

U.K. stocks sterling traded around its lowest dollar level since late December as the Greenback rallied on speculation the Federal Reserve could start to raise interest rate more aggressively. The benchmark FTSE 100 was marginally higher by 0.7% at 7787.

On domestic front Indian shares ended lower after BJPs Yeddyurappa has been given 15 days to prove the party has a legislative majority in Karnataka. Rising oil prices concerns about a weakening rupee and mixed cues from other Asian markets also kept investors nervous. The BSE Sensex closed down by 0.7% at 35149.

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