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

U.S. stocks showed a strong move back to the upside during trading on Wednesday. The major averages saw initial weakness but climbed firmly into positive territory as the day progressed. The Dow jumped 0.9 percent to 34137 the Nasdaq surged up 1.2 percent to 13950.

U.K. stocks gained ground on Wednesday after data showed inflation picked up in March on rising prices for clothing and motor fuel. The benchmark FTSE 100 moved up 0.3 percent to 6881.

Indian markets were on holiday on Wednesday. On Tuesday shares gave up early gains to end lower on Tuesday with IT companies and HDFC underperforming. Markets opened on a positive note after the government said it will widen vaccinations to everyone above 18 in the next stage beginning May 1. The benchmark BSE Sensex fell by 0.5 percent to 47706.

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