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

U.S. Stocks turned lower over the course of the trading session on Wednesday. The major averages all pulled back off their best levels of the day and into negative territory. The Dow Jones ended down by 0.7% to 24117 and the Nasdaq plunged by 1.5% to 7445.

U.K. stocks gave up initial gains to turn lower during the last trading session after a report showed that U.K. house prices increased at a slower pace in June. The benchmark FTSE 100 was down by 0.2% to 7521.

On domestic front Indian shares fell on Wednesday and the rupee hit a 19month low as rising oil prices and signs of escalating trade tensions between the U.S. and other world economies dented risk appetite. The BSE Sensex ended down by 0.8% to 35217.

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