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

The US stocks showed a lack of direction during trading on Tuesday. The major averages spent most of the day bouncing back and forth across the unchanged line. The Dow fell 0.4 percent to 27934 while Nasdaq rose 0.2 percent to a new record closing high of 8570.

The UK stocks are gaining in strength after a steady start Tuesday morning with investors doing some brisk buying at several counters from across various sectors. The FTSE 100 was up by 0.8 percent to 7366.

On domestic front Indian shares opened on a positive note on Tuesday and stayed firm right through the session to eventually close with strong gains thanks to hectic buying in telecom and energy sectors. The benchmark BSE Sensex was up by 0.5 per cent to 40469.

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