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

U.S. stocks showed another significant move to the downside during trading yesterday following the selloff seen in the previous session. With the continued drop the techheavy Nasdaq fell to its lowest closing level in over seven months. The Dow and Nasdaq plunged by 2.2 percent and 1.7 percent to 24466 6909 respectively.

U.K. shares were moving lower on Tuesday and the British pound held steady against the euro and dollar as investors looked forward to a testimony by Bank of England policymakers on the latest November inflation report. The benchmark FTSE 100 fell by 0.5% to 6963.

On domestic front Indian shares fell yesterday to snap a threeday winning streak despite easing tensions between the RBI and the government a strengthening rupee and fresh declines in oil prices on concerns over oversupply amid a deteriorating economic outlook. The BSE Sensex fell by 0.8% to 35475.

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