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

US markets had a mixed session with tech stocks gaining ground while the broader market slipped lower. The National Association of Realtors (NAR) released a report showing a bigger than expected drop in existing home sales in the month of June 2017. Existing home sales dropped by 1.8 percent against an expectation of a drop of 1.0 percent. The NYSE Arca Gold Bugs Index dropped by 2.4 percent as gold prices weakened by $0.6 to USD 1,254.30 an ounce.

The UK markets fell lower as the IMF announced a cut to its GDP growth forecast. The IHS Markit's household finance index dropped to 41.8 in July from 43.7 in June, signaling a fast deterioration in financial wellbeing for UK households. Airliner Ryanair fell by 1.4 percent after the budget airline said it expects airline pricing to remain under pressure for the second half of the year.

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