''Indian markets are expected to open flat to negative on the back of mixed global cues. In the near term, the markets may trade volatile ahead of the F&O expiry and worries over applicability of MAT. We may see earnings led stock specific action,'' said ICICIdirect.

Domestic markets ended negative on broad-based selling on continued worries over retrospective taxes and lower-than-expected January-March earnings so far. Also, investors are cautious ahead of the expiry of April derivatives and FOMC meet scheduled this week. US markets ended negative as traders remained on the sidelines ahead of the two day FOMC meet scheduled to begin today.

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