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

The US stocks moved sharply lower during trading yesterday extending the notable pullback seen over the course of the previous session. With the selloff on the day the major averages retreated further from their recent record highs. The Dow fell by 1.5 percent to 28536 and the Nasdaq plunged by 1.9 percent at 9139.

UK stocks tumbled on Monday as the corona virus spread globally and caused more fear with death tolls more than tripling from last week. The benchmark FTSE 100 tumbled by 2.1 percent to 7425.

On domestic front Indian fell sharply yesterday as concerns over the spread of a virus outbreak in China and its potential economic impact sapped demand for riskier assets. The benchmark BSE Sensex slumped by 1.1 percent to 41155.

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