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

The US stocks recovered from an initial drop and moved mostly higher over the course of the trading session yesterday. With the turnaround on the day the Nasdaq and the SP 500 ended the session at new record closing highs. The Dow rose by 0.6 percent to 29277 and the Nasdaq surged by 1.1 percent to 9628.

UK stocks edged lower yesterday after Britain declared the new corona virus that emerged from China a “serious and imminent threat to public health” and announced new measures to combat the spread of the disease. The benchmark FTSE100 dipped by 0.3 per cent to 7442.

On domestic front Indian shares followed their global peers lower on Monday as the death toll from a corona virus outbreak exceeded the SARS epidemic raising fresh worries about a slowdown in global growth. The benchmark BSE Sensex was down by 0.4 percent to 40980.

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