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

U.S. stocks moved sharply lower over the course of the trading session on Monday adding to the steep losses posted last week. The major averages slid firmly into negative territory with the Nasdaq falling to its lowest closing level in almost five months. The Dow fell by 1.6 percent to 25017 and the Nasdaq tumbled by 3 percent to 7028.

U.K. shares rose on yesterday ahead of Prime Minister Theresa Mays speech at the CBI annual conference. The British pound edged higher against major currencies in early European trading helping limit overall gains to some extent. The benchmark FTSE 100 was up by 0.4% to close at 7040.

On domestic front Indian shares ended sharply higher on Monday as investors awaited the outcome of a crucial RBI board meeting expected to discuss issues ranging from MSME credit to the central banks reserves. The BSE Sensex rose by 0.9% to 35775.

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