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

U.S. stocks moved sharply higher during the last trading session adding to the modest gains posted in the previous session. The Dow Jones ended up by 1.8% to close at 24408. The NASDAQ ended up by 2.1% to close at 7094.

U.K. stocks were modestly higher after Chinese President Xi Jinping promised to lower import tariffs on products including cars and take other steps to further open the worlds secondlargest economy helping soothe investor jitters over an escalating trade conflict with the United States. The FTSE 100 was up by 1.0% to end at 7267.

On domestic front Indian shares rose for a fourth consecutive session as banks rebounded from recent string of losses and global cues remained well supported on increased hopes that a fullblown war between the U.S. and China could be averted. The BSE Sensex ended up by 0.3% at 33880.

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