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

The US stocks moved sharply lower over the course of the trading day on Wednesday more than offsetting the strength seen in the previous session. With the drop on the day the major averages ended the session at their lowest closing levels in well over a month. The Dow plunged by 1.9 percent to 26763 and the Nasdaq nosedived by 3 percent to 10633.

UK stocks rose on yesterday and the pound continued to decline after Prime Minister Boris Johnson announced new restrictions for the country and voiced hope that “things will be far better by the spring”. The FTSE 100 sprung up by 2.4 at 5967.

On domestic front Indian shares fell for the fifth day running on Wednesday as rising Covid19 cases at home and fears over more pandemic lockdowns in Europe dented sentiment. The benchmark BSE Sensex dipped by 0.2 percent to 37668.

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