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

U.S. Stocks showed an upside during trading on Thursday following the strength seen in the previous session. The strength on Wall Street came following the release of a Labor Department report showing a slightly smaller than expected increase in consumer prices in the month of April. The Dow Jones rose to 24740 and the Nasdaq was up by 0.9% to 7405.

U.K. shares were little changed on Thursday as investors awaited the latest rate announcement as well as the quarterly inflation report from the Bank of England for directional cues. The benchmark FTSE 100 was marginally higher by 0.5% at 7701.

On domestic front Indian shares fell slightly on Thursday as investors stayed on the sidelines ahead of assembly elections in Karnataka. Surging oil prices on rising tensions in the Middle East and a weakening rupee amid sustained selling by foreign investors also served to keep underlying sentiment cautiou

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