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

U.S. stocks moved sharply lower with the major averages adding to the losses posted last week. The Dow Jones tumbled to 1.3% to close at 24611. The NASDAQ dropped down by 1.8% to close at 7344.

U.K. stocks fell sharply as investors looked ahead to Wednesdays meeting of the U.S. Federal Reserve as well as the Bank of England policy meeting on Thursday for directional cues. The FTSE 100 was down by 1.7% to end at 7043.

On domestic front Indian shares fell for a fourth consecutive session and the rupee weakened against the dollar after data from the Reserve Bank of India (RBI) showed Indias OctoberDecember current account deficit widened sharply from a year earlier driven by higher imports. The BSE Sensex ended down by 0.8% at 32923.

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