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

U.S. stocks came under pressure over the course of the trading session on Monday. The major averages pulled back well off their best levels of the day and into negative territory. The Dow Jones slumped by 1 percent to 24442 and the Nasdaq tumbled by 1.6 percent to 7050.

U.K. shares rose sharply on Monday with upbeat earnings and corporate news boosting investor sentiment. The benchmark FTSE 100 was up 1.05 percent at 7012.

On domestic front Indian shares bounced back from sevenmonth lows to end sharply higher on Monday as oil held weak below 68 a barrel and heavyweight ICICI Bank reported betterthanexpected quarterly results helping ease recent investor concerns over corporate earnings growth. The BSE Sensex was up by 2.2% to 34067.

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