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

The US stocks came under pressure late in the trading day on Wednesday in reaction to comments from Federal Reserve Chairman Jerome Powell offsetting optimism about future interest rate cuts. The major averages climbed off their worst levels but still ended the day sharply lower. The Dow and Nasdaq plunged by 1.2 percent each to 26864 and to 8175 respectively.

U.K. stocks fell on yesterday with disappointing earnings from Lloyds and caution ahead of a U.S. Federal Reserve decision on interest rates keeping investors nervous. The FTSE 100 fell by 0.4 percent at 7615.

On domestic front Indian shares fluctuated on Wednesday before finishing modestly higher after a sharp surge during the last trading hour. The benchmark BSE Sensex moved up by 0.2 percent to 37481.

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