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

US stocks closed on a negative note on Monday. After coming under pressure early in the session, stocks regained some ground over the course of the trading day, but still closed modestly lower. The weakness for the day came after seeing strength in the last week and seeing record highs.

The European markets ended the first trading session on the new week in a negative territory. The markets got off to a weak start Monday and remained in a narrow range for most of the session and finally closed in red. Weak opening of the US indices also had some impact on the European markets. Banking stocks were in selling pressure during the day.

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