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

The US stocks showed a strong move back to the upside during trading on Tuesday. The major averages fluctuated after an early upward move but maintained a positive bias throughout the session. The Dow jumped 1.2 percent to 26029 and the Nasdaq soared 1.4 percent to 7833.

U.K. stocks were deep in the red on Monday joining a global selloff as simmering trade tensions between the U.S. and China spurred fears that a deepening trade war will depress demand. The FTSE 100 was down by 2.1% to 7258.

On domestic front Indian shares ended Tuesdays session higher as the Chinese yuan stabilized to hold above 7 per dollar and investors braced for a 25 bps repo cut from the Reserve Bank of India. The benchmark BSE Sensex was up by 0.8% to 36977.

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