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

U.S. Stocks fell on Tuesday unable to sustain positive momentum from the previous session despite overtures from China. China will cut the import tariffs it charges on cars to 15% which will give a boost to foreign automakers in the worlds largest market especially for US automakers. The Dow Jones was down by 0.7% to 24834 and the Nasdaq closed down by 0.2% to 7378.

U.K. stocks were modestly higher on Tuesday after a government report showed the U.K. budget deficit narrowed in April to its lowest level since 2008. Underlying sentiment remained cautious ahead of the testimony of the Bank of England governor Mark Carney to the House of Commons Treasury Select Committee on the latest quarterly inflation report. The FTSE 100 was up by 0.2% to end at 7877.

On domestic front Indian shares gave up earlier gains to end largely unchanged on Tuesday tracking mixed global cues. Automakers closed bro

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