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

US stocks moved sharply lower over the course of the trading session on Thursday more than offsetting the rally seen on Wednesday. The major averages came under pressure in early trading and saw further downside as the day progressed and all of them saw substantial weakness with the techheavy Nasdaq posting a particularly steep loss. The Dow tumbled 1.8 percent to 31402 and the techheavy Nasdaq plunged 3.5 percent to 13119 its lowest closing level in nearly a month

U.K. stocks eked out modest gains on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low calming market fears around a potential spike in inflation. The benchmark FTSE 100 rose 0.4 percent to 6688.

Indian shares rose yesterday though markets ended off their days highs amid the expiry of February series derivative contracts. Underlying sentiment remained supported after Federal Reserve

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