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

U.S. Stocks moved sharply lower over the course of the trading session. With the pullback on the day the Dow closed lower for the fifth consecutive session. The Dow Jones dipped by 1.7 percent to 24024 and the Nasdaq fell by 1.7 percent to 7007.

U.K. stocks were modestly higher tracking a weaker pound which extended its slide to hit a fiveweek low against the dollar on expectations the Bank of England might not raise interest rates again in May. The FTSE 100 was up by 0.3% to end at 7419.

On domestic front Indian shares rose on Tuesday even as the nearterm economic outlook remained clouded with significant external and domestic headwinds. The BSE Sensex was up by 0.5% at 34617.

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