Indian markets are likely to open flat tracking global indices and SGX Nifty.
The US stocks moved sharply lower over the course of the trading day on Friday more than offsetting the modest gains posted in the previous session. With the steep drop on the day the Dow fell to its lowest closing level in well over a month. The Dow plummeted by 2.1 per cent to 28256 and the Nasdaq tumbled by 1.6 percent to 9151.
UK stocks fell in cautious trade on Friday amid simmering fears over the corona viruss spread from China and ahead of the U.K.s departure from the European Union. The benchmark FTSE 100 fell by 0.4 per cent to 7352.
On domestic front Indian shares ended a volatile session lower yesterday to extend losses for the second day running. Caution prevailed as investors avoided making big bets ahead of the keenly awaited budget announcement today. The benchmark BSE Sensex fell by 0.5 percent to 40723
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