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

The US stocks showed another substantial move to the downside during trading yesterday. With the continued decline the Dow tumbled to its lowest closing level in nearly four month. The Dow steeped down 3.2 percent to 27081 and the Nasdaq fell by 2.8 percent to 8966.

UK stocks ended lower on Tuesday as stocks fell sharply for a second successive session this week amid mounting worries about the impact of the rapidly spreading coronavirus in Italy and a few other parts of the globe. The benchmark FTSE100 fell by a sharp 1.9 per cent to 7018 recording its oneyear closing low.

On domestic front Indian shares fluctuated before finishing modestly lower on Tuesday as the spread of coronavirus outside China sparked fears of a hit to supply chains and global economic growth. The benchmark BSE Sensex dipped by 0.2 percent to 40281.

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