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

US Stocks turned in a relatively lackluster performance during trading on Monday. Despite the choppy trading the Nasdaq and the SP 500 reached new record closing highs. The Dow was flat at 26554 while the Nasdaq was ended up 0.2 percent to 8162.

U.K. stocks drifted lower on Monday as oil extended losses and the pound opened the week with a gain after the announcement of Spans general election results. FTSE 100 was flat down by 0.0 percent to 7440.

On domestic front Indian markets were closed on Monday on account of Lok Sabha Elections in Maharashtra. On Friday Indian shares rose sharply as investors cheered softening of oil prices as well as strong earning updates from the likes of Axis Bank and Tata Steel Stock. The benchmark BSE Sensex rose by 0.9% to 39067.

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