Indian markets are likely to open negative tracking global indices and SGX Nifty.
USmoved sharply lower over the course of the trading day on Wednesday adding to the modest losses posted in the previous session. The major averages all posted steep losses with the Nasdaq and the SP 500 pulling back further off Mondays record closing highs. The Dow tumbled 2.1 percent to 30303 and the Nasdaq plummeted 2.6 percent to 13271.

U.K. stocks were little changed on Wednesday as climbing coronavirus cases and movement curbs raised concerns about growth. The benchmark FTSE 100 inched up by 0.2 percentage to 6654.

Indian shares fell sharply on Wednesday despite the International Monetary Fund (IMF) projecting 11.5 percent growth rate for India in 2021 making the country the only major economy of the world to register doubledigit growth this year amidst the coronavirus pandemic. The benchmark BSE Sensex plunged by 1.9 percent to 47410 due to profit booking.

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