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

The US stocks showed wild swings over the course of the trading day on Thursday. The major averages spent the day bouncing back and forth across the unchanged line before closing modestly higher. The Dow inched up by 0.2 percent to 26815 and the Nasdaq moved up by 0.4 percent to 10672.

UK fell yesterday amid fading U.S. stimulus hopes and ahead of an announcement on new fiscal measures from the UK government. The FTSE 100 fell by 0.6 to 5854.

On domestic front Indian succumbed to heavy selling pressure yesterday mirroring weak global cues as weak data releases rising Covid19 infections in Europe coupled with a series of warnings from the U.S. central bank officials about a recovery from the coronavirus pandemic spooked investors. The benchmark BSE Sensex nosedived 3 percent to 36554.

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