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

The US stocks moved mostly lower over the course of the trading day on Wednesday adding to the modest losses posted in the previous session. With the drop on the day the major averages pulled back further off Mondays record closing highs. The Dow fell by 0.4 percent to 27220 and Nasdaq decreased by 0.5 percent to 8185.

U.K. stocks recouped initial losses to turn flat on Wednesday after a government report showed U.K. consumer price inflation remained stable in June. The FTSE 100 was however down by 0.6 percent to 7535.

On domestic front Indian shares rose for the third day running on Wednesday after oil prices fell over 3 percent overnight amid the announcement of possible talks between the United States and Iran. The benchmark BSE Sensex inched up by 0.2 percent to 39216.

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