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

U.S. stocks failed to hold early gains and ended weak on Tuesday as disappointing data on housing starts and a selloff in the technology section weighed on the market. The Dow ended down by 0.8 percent at 34061 and the Nasdaq which rose to 14485.34 settled at 13304 recording a loss of 0.5 percent.

U.K. stocks eked out modest gains on Tuesday with optimism around the relaxation of COVID19 restrictions and a strong reading on the U.K. labor market helping underpin investor sentiment. The benchmark FTSE 100 went up by 0.7 percent to 7009.

Indian shares rose sharply on Tuesday to extend gains from the previous session as the daily rise in new COVID19 cases remained below the 3lakh mark for a second straight day. The benchmark BSE Sensex surged up 1.2 percent to 50193

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