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

US Stocks shrugging off a disappointing batch of U.S. economic data however stocks extended a recent upward move during trading. The major averages closed higher for the fourth straight session once again reaching new record closing highs.The Dow Jones is up 0.9% to close at 25296 and the Nasdaq Composite edged up to 0.8% to 7137.

U.K. shares erased early losses to turn higher on last trading day although gains remained modest ahead of the release of the closelywatched U.S. The FTSE 100 is up by 0.4% to close at 7724.

On domestic front Indian shares hit fresh record highs riding on a rally in global markets amid optimism over growth trajectory. The Sensex ended on an upside front of 0.54% at 34153 while the Nifty ended at 10559 with an upside of 0.5%.

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