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

The US stocks moved sharply lower over the course of the trading day on Friday extending the pullback seen in the previous session. With the steep drop on the day the major averages continued to give back ground after ending Wednesdays trading at their best closing levels in well over a month The Dow plunged by 2.6 percent to 23724 and the Nasdaq tumbled by 3.2 percent to 8605.

UK stocks fell sharply on Friday with coronavirus worries and weak earnings updates from the likes of Apple and Amazon weighing on sentiment. The FTSE 100 was down by 2.4 percent to 5761.

On domestic front Indian markets were shut on Friday for the Maharashtra Day holiday. On Thursday shares rose sharply to extend gains for the fourth straight session mirroring firm global cues. The benchmark BSE Sensex was up by 3.1 per cent to 33718.

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