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

U.S. stocks moved mostly lower yesterday after delivering a mixed performance last week. The weakness on Wall Street came amid news China has canceled trade talks with the U.S. as tariffs on billions of dollars worth of goods take effect. The Dow fell 0.7 percent to 26562 and the Nasdaq was almost flat at 0.1 percent upside to 7993.

UK stocks fell slightly on Monday as escalating concerns about global trade tensions offset investor optimism over a weakening pound. Trade tensions also returned to the fore as Beijing cancelled planned talks with the Washington and a new round of U.S. tariffs on Chinese goods kicked in triggering fears of a protracted trade dispute between the worlds two largest economies. The FTSE 100 was down by 0.4 percent at 7458.

On domestic front Indian stocks came under heavy selling pressure on Monday as trade tensions persisted and oil prices jumped around 2 percent on sig

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