Indian markets are likely to open positive tracking global indices and SGX Nifty.

U.S. stocks mostly higher during the trading day on Wednesday extending the strong upward move seen late in the previous session. With the gains the major averages climbed further off the multimonth closing lows set on Monday. The Dow Jones jumped 1 percent to 25115 and the Nasdaq soared 2 percent to 7305.

U.K. shares rallied on Wednesday to build on the previous sessions gains as strong earnings reports helped investors shrug off signs of further loss of momentum in the worlds secondlargest economy. The benchmark FTSE 100 was up 1.6 percent at 7145.

On domestic front Indian shares rose sharply on Wednesday with positive cues from global markets and easing of concerns over the ongoing rift between the RBI and the government boosting investor sentiment. The BSE Sensex was up by 1.6% to 34442.

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