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

US stocks gave back ground over the course of the trading session on Wednesday. The major averages pulled back well off their highs of the session before closing on opposite sides of the unchanged line. The Dow edged down by a tenth of a percent to 26536 while the Nasdaq 0.3 percent to 7909.

U.K. stocks rose modestly on Wednesday as investors digested comments from Federal Reserve chairman Jerome Powell and looked ahead to the G20 meeting for directional cues. The FTSE 100 moved up by 0.2 percent to 7433.

On domestic front Indian shares rose for a second straight session on Wednesday though the upside remained limited in the wake of weak global cues and a continued rally in oil prices amid rising Middle East tensions. The benchmark BSE Sensex rose by 0.4 percent to 39592.

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