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

The stocks moved significantly higher over the course of the trading day on Wednesday offsetting the pullback seen late in the previous session. The major averages all moved to the upside although the Dow underperformed its counterparts. The Dow rose 0.6 percent to 26540 and the Nasdaq surged 1.4 percent to 10543.

UK stocks eked out modest gains yesterday as investors parsed through a deluge of earnings reports and prepared for a dovish message from the U.S. Federal Reserve. The FTSE 100 inched up by 0.3 percent to 6146.

On domestic front Indian shares fell sharply yesterday with heavyweight Reliance Industries financials and IT stocks pacing the decliners amid mixed global cues and ahead of the expiry of July series derivative contracts today. The benchmark BSE Sensex plunged by 1.1 percent to 38071.

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