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

The US stocks regained some ground over the course of the trading day on Friday but remained firmly in negative territory. The major averages extended the steep drop seen over the two previous sessions falling to their lowest closing levels in over a month. The Dow fell 0.4 percent to 26485 and the Nasdaq tumbling 107.05 points or 1.3 percent to 8004.

U.K. stocks tumbled on Friday as the U.S.China trade dispute deepened after U.S. President Donald Trump proposed to impose a 10 percent tariff on 300 billion of Chinese imports from September 1. The FTSE 100 was down by 2.1% to 7433.

On domestic front Indian shares recovered from an early plunge to end slightly higher on Friday after HDFC posted strong Q1 results and reports suggested the Prime Minister Office took stock of tax surcharge of foreign portfolio investors and its impact on markets. The benchmark BSE Sensex was up by 0.3 percent to 37

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