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

US markets moved modestly higher over the course of the trading session on Tuesday. With the upward move on the day all three of the major averages ended the session at record closing highs. The Dow rose 0.2 percent to 22371 the Nasdaq edged up 0.1% to 6461 and the SP 500 inched up 0.1 percent to 2507. The buying interest was somewhat subdued as traders seemed reluctant to make significant moves ahead of the Federal Reserves monetary policy announcement on Wednesday.

The UK markets edged higher on Tuesday as the pound pulled back from a 15month high against the dollar helping spur bargain hunting in shares of multinational companies on the benchmark index. The FTSE 100 rose 0.3% to 7275 on Tuesday thanks to a relatively quiet day across European markets.

The NSE benchmark Nifty ended flat in a volatile session with negative bias down 5.55 points on selling mainly in PSU bank metal pharma

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