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

U.S. stocks moved mostly lower over the course of the trading session on Monday giving back ground after moving notably higher last week. The major averages all moved to the downside with the techheavy Nasdaq showing a particularly steep drop. The Dow Jones fell by 0.4 percent to 26062 and Nasdaq plunged 1.4 percent to 7895.

UK stocks fell on Monday with mining stocks coming under selling pressure on concerns that an escalating trade war between the United States and China could hurt global growth. The FTSE 100 was down 0.45 percent at 7271.

On domestic front Indian stocks came under heavy selling pressure once again on Monday as the rupee extended recent declines despite measures announced by the government to cut down nonnecessary imports ease overseas borrowing norms for the manufacturing sector and relax rules around banks raising masala bonds or rupeedenominated overseas bonds. T

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