Indian markets are likely to open negative 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 upward move seen over the two previous sessions. The techheavy Nasdaq pulled back well off yesterdays record closing high. The Dow plummeted 2.7 percent to 25445 and the Nasadq tumbled 2.2 percent to 9909.

UK stocks ended sharply lower on Wednesday as rising coronavirus cases across the globe and mounting worries about growth after the International Monetary Fund lowered its forecast for the global economy hurt sentiment and triggered heavy selling across the board. The FTSE 100 was down by 3.1 percent to 6123.

On domestic front Indian shares tumbled on Wednesday to snap a fourday winning streak as traders locked in profits ahead of the expiry of monthly derivative contracts due on Thursday. The benchmark BSE Sensex was down by 1.6 per cent to 34868.

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