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

US stocks tumbled in the final hour of trading to finish near the unchanged line as markets remained skittish after Mondays crash.The Dow Jones ended on downside front of 0.1% to close at 24893 and the Nasdaq Composite edged down to 0.9% to 7052.

U.K. shares edged higher after the U.S. markets recovered from an early plunge to finish sharply higher overnight. The FTSE 100 was up by 1.9% to close at 7279.

On domestic front Indian shares closed lower for the seventh straight session as global sentiment changed from unbridled optimism to skepticism and the RBI warned of higher government spending feeding into inflation after keeping interest rates unchanged for a third straight meeting as widely expected. The Sensex ended on a downside front of 0.3% at 34083 while the Nifty ended at 10477 with a downside of 0.2%.

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