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

The US stocks showed a substantial turnaround over the course of the trading day on Thursday after moving sharply lower early in the session. The major averages bounced well off their lows of the session and into positive territory. The Dow surged up 1.6 percent to 23625 and the Nasdaq advanced 0.9 percent to 8943.

UK stocks fell on Thursday after a grim outlook from Federal Reserve Chairman Jerome Powell and on renewed U.S.China tensions with the U.S. accusing China of trying to steal vaccine information. The FTSE 100 was down by 2.2 percent to 5771.

On domestic front Indian shares plunged on Thursday as coronavirus worries persisted and investors were disappointed with announcements made by Finance Minister Nirmala Sitharaman to inject liquidity and improve credit flow. The benchmark BSE Sensex was down by 2.8 per cent to 31123.

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