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

The US stocks moved sharply lower over the course of the trading day on Tuesday extending the pullback seen in the previous session. The major averages continued to give back ground after ending last Fridays trading at their best closing levels in over a month. The Dow fell sharply by 2.7 per cent to 23019 and the Nasdaq plunged by 3.5 percent to 8263.

UK stocks were sharply lower on yesterday with commodityrelated companies feeling the heat of a global selloff after the price of U.S. crude oil plunged below zero overnight on concerns that demand for oil is collapsing amid Covid19 pandemic. The FTSE 100 slumped by 1.6 percent to 5718.

On domestic front Indian shares tumbled yesterday mirroring weak global markets after a historic plunge in oil prices underscored deep economic ructions from the coronavirus pandemic which has so far killed over 170000 people globally The benchmark BSE

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