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

US stocks showed a strong move back to the upside in morning trading on Thursday. The major averages gave back ground in the afternoon but managed to remain firmly positive. The Dow surged up 1 percent to 30603 and the Nasdaq inched up 0.5 percent to 13337.

U.K. stocks fell on Thursday amid growth worries after Federal Reserve Chair Jerome Powell warned the ongoing public health crisis continues to weigh on economic activity employment and inflation and poses considerable risks to the economic outlook. The benchmark FTSE 100 plummeted 1.8 percent to 6451.

Indian shares ended deep in the red for the fifth consecutive day on Thursday with negative global cues on concerns over stretched valuations and caution ahead of the Union Budget on the 1st of February keeping investors nervous The benchmark BSE Sensex plunged by 1.1 percent to 46874.

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