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

US stocks moved mostly higher but turned mixed over the course of the session. The major averages eventually ended the day on opposite sides of the unchanged line. The Dow Jones ended up 0.1% to close at 25219 and the Nasdaq Composite edged down to 0.2% to 7239.

U.K. shares fluctuated after sharp gains last week as investors brushed aside worries over higher inflation and interest rates. The FTSE 100 was down by 0.6% to close at 7248.

On domestic front Indian shares fell notably after the Rs 11400cr banking fraud unearthed at Punjab National Bank last week raised worries over the
systemic and others risk management systems prevailing within the banking ecosystem. The Sensex ended on a downside front of 0.7% at 33775 while the Nifty ended at 10378 with a downside of 0.7%.

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