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

The US stocks showed a lack of direction throughout much of the trading session on Wednesday but saw a positive reaction to the Federal Reserves latest monetary policy announcement. The major averages managed to end the session modestly higher. The Dow inched up by 0.1 per cent to 27911 and Nasdaq went up by 0.4 per cent 8654.

UK stocks edged higher on Wednesday with investors making some selective purchases amid hopes the Trump administration will delay implementing additional 15% tariffs on about 160 billion worth of Chinese goods. The FTSE 100 was almost flat at 7216.

On domestic front Indian shares rose modestly on Wednesday as IT stocks rebounded from declines over the previous two sessions. Underlying sentiment remained cautious ahead of key global events as well as the release of macroeconomic data on the domestic front. The benchmark BSE Sensex increased by 0.4 per cent to 40413.

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