Indian markets are likely to open flat tracking global indices and SGX Nifty.
The US stocks remained firmly negative throughout most of the trading day on Friday but staged a notable recovery attempt going into the close. The major averages significantly pared their losses but still closed sharply lower. The Dow fell by 1 percent to 25864 and the Nasdaq plunged 1.9 percent to 8575.
UK stocks were deep in the red on Friday as coronavirus fears continued to dent sentiment. So far a total of 97852 infections have been confirmed worldwide and more than 3300 people have been killed by the virus. The benchmark FTSE 100 was down by 2.1 per cent to 6562.
On domestic front Indian shares fell heavily on Friday amid selling across the board as a spreading coronavirus stoked fears of a prolonged economic slowdown and the Yes Bank crisis raised concerns about the knockon effects on the financial system. The benchmark BSE Sensex was down by 2.3 percent to 37577.
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