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

US Stocks moved sharply lower over the course of the trading session on Tuesday partly offsetting the rally seen last week. With the selloff on the day the major averages pulled back after ending last Fridays trading at their best closing levels in well over a month. The Dow tumbled 301.87 points or 1.2 percent to 24404 and the Nasdaq slumped 136.87 points or 1.9 percent to 7020.

U.K. stock markets drifted lower on Tuesday amid renewed worries about global economy after the International Monetary Fund lowered its forecast for global growth in the current year. The FTSE 100 fell by 1% to 6901.

On domestic front closed lower on Tuesday to snap a fiveday winning streak as gloomy IMF forecasts for global growth sapped investors appetite for risk. The rupee held somewhat steady and oil prices moved lower on growth worries helping limit overall downside to some extent. During the trading session t

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