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

US Stocks came under pressure early in the trading session on Monday and remained firmly negative throughout the day. With the steep drop on the day the Dow and the Nasdaq pulled back off their best closing levels in over a month. The Dow tumbled 0.8 percent to 24528 and the Nasdaq plunged 1.1 percent to 7085.

U.K. stocks recouped early losses to turn flat on Monday as resource stocks gained ground despite worries over slowdown in China. The FTSE 100 was down by 0.1% to 6803.

On domestic front Indian shares fell heavily on Monday amid acrosstheboard selling as investors braced for some populist announcements in the interim budget due to be presented in Parliament on February 1. Mixed global cues also kept investors nervous ahead of January FO expiry. During the trading session the BSE Sensex was down by 1.0% to 35657.

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