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

The US stocks showed a significant downturn over the course of the session. The major averages pulled back well off their best levels before eventually closing in negative territory. The Dow dipped by 0.1 percent to 22654 and the Nasdaq fell by 0.3 percent to 7887.

UK stocks followed global peers higher on Tuesday as the coronavirus pandemic appeared to be slowing down in the worsthit countries. The FTSE 100 rose by 2.2 percent to 5707.

On domestic front Indian shares posted strong gains on Tuesday with key benchmark indexes rising around 9 percent the most since May 2009 as the spread of the coronavirus appeared to slow down somewhat globally and investors looked for more central bank and government stimulus to counter the economic fallout from the pandemic. The benchmark BSE Sensex rallied by 9 per cent to 30067.

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