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

The US stocks moved mostly higher over the course of the trading session on Wednesday driving the Nasdaq and the SP 500 to new record highs. The narrower Dow bucked the uptrend however with a steep drop by Caterpillar (CAT) weighing on the blue chip index. The Dow fell 0.3 percent to 27269 while the Nasdaq jumped 0.9 percent to 8321.

U.K. stocks fell sharply on Wednesday and the British pound edged higher as Boris Johnson enters 10 Downing St. as Britains new prime minister today. The FTSE 100 was down by 0.9 percent at 7485.

On domestic front Indian shares were slightly lower in early trade on Wednesday despite hints of progress in the SinoU.S. trade talks. The benchmark BSE Sensex fell by 0.4 percent to 37847.

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