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

The US stocks showed a strong move back to the upside during trading on Wednesday. The major averages more than offset Tuesdays losses with the SP 500 climbing back within striking distance of its record highs. The Dow rose 1.1 percent to 27977and the Nasdaq surged by 2.1 percent 11012.

UK stocks rose notably yesterday amid bets of domestic stimulus after data showed Britains economy shrank by a fifth in the last quarter. The FTSE 100 rose by 0.9 percent to 6208.

On domestic front Indian shares fell slightly on Wednesday after seeing broad gains in the last few sessions. Weak domestic factory output data and mixed global cues dampened investors mood. The benchmark BSE Sensex dipped by 0.1 percent to 38370.

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