Indian markets are likely to open flat to negative tracking the SGX Nifty and Asian markets, said Angel Broking in its report.

US markets dropped during Tuesday's session as oil prices moved to its lowest closing level since September. Oil prices have been moving lower on concerns of oversupply from Nigeria and Libya. The Philadelphia Oil Service Index fell by 2.3 percent, while the NYSE Arca Oil & Gas Index and the NYSE Arca Natural Gas Index fell by 1.7 percent and 1.3 percent, respectively.

UK stocks closed lower at the end of the session Barclays dropped 1.6 percent after the bank, its former chief executive and three other former top executives were charged with fraud over their actions in the 2008 financial crisis. The Confederation of British Industry stated their forecast that the UK economy would have steady, but subdued economic growth over the next couple of years as the country faces several headwinds.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.