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Indian markets are likely to open on a positive note tracking SGX Nifty. US markets moved lower on Wednesday due to losses in healthcare and material stocks. Oil prices also moved sharply lower due to unexpectedly large supply buildup. The Federal Reserve had initially forecast rate hikes but weak economic growth and volatility has delayed tightening in monetary policy. The direction of any interest rates would be clearer after Federal Reserve chair Janet Yellens speech. UK markets closed in the red after mixed earnings and a slide in commodity prices. Mining company Glencore Plc reported a loss for the first half of the year. Commodity and energy stocks were down while housing stocks were positive after positive data from the British Bankers Association. Indian markets ended Wednesdays session slightly higher in a choppy trading session. Investors awaited the expiry of derivative contracts as well as the speech by the Federal Reserve Chairwoman Janet Yellen. Energy and PharmaDownload Full Report