Indian markets are likely to open negative tracking global indices and SGX Nifty.
U.S. stocks saw notable strength in morning trading on Wednesday before giving back some ground in the afternoon. Despite the pullback by the major averages the Dow still ended the session at a new record closing high. While the Dow rose 0.2 percent to 26828 and the Nasdaq climbed 0.3 percent to 8025.
UK stocks were marginally higher in cautious trade on Wednesday and the pound held near threeweek low as investors awaited U.K. Prime Minister Theresa Mays speech at Conservative Conference for directional cues. The FTSE 100 was up by 0.1 percent at 7482.
On domestic front Indian stocks tumbled on Wednesday with selling accelerating in late trade as the rupee continued to weaken oil prices held near fouryear highs and turmoil in Italy soured investors risk appetite. The BSE Sensex was down by 1.5% to 35976.
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