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

US stocks showed a lack of direction throughout much of the trading day on Tuesday but showed a notable move to the downside in the latter part of the session. The major averages ended the session near their worst levels of the day. The Dow slumped 0.9 percent to 32423 and the Nasdaq tumbled 1.1 percent to 13228.

UK stocks edged lower on Tuesday as Covid worries persisted with EU leaders due to discuss a possible ban on vaccine exports to Britain at a summit on Thursday. The benchmark FTSE 100 fell by 0.2 percent to 6712.

Indian shares shrugged off weak global cues to end higher on Tuesday with financials posting broadbased gains after the Supreme Court of India ruled in favor of waiving compound interest and rejected pleas by various trade associations to extend the loan moratorium that ended in August last year. The benchmark BSE Sensex rose by 0.6 percent to 50051.

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