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

The US stocks moved sharply lower during trading on Wednesday extending the selloff seen over the past several sessions. The major averages climbed off their worst levels going into the close but still ended the day sharply lower. The Dow plummeted by 6.3 per cent to 19899 and the Nasdaq also fell sharply by 4.7 per cent to 6990

UK stocks plunged on Wednesday as concerns over the coronavirus impact on businesses and households returned to the forefront. The benchmark FTSE 100 plunged by 4.9 percent to 5030.

On domestic front Indian shares fell for the third day running on Wednesday with key benchmark indexes dropping to their lowest levels in three years as a spreading coronavirus pandemic threatened to bring the world to a halt. The benchmark BSE Sensex dived by 5.6 percent to 28870.

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