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

The US stocks stocks have shown a lack of direction over the course of the trading day on Thursday. The major averages have spent the day bouncing back and forth across the unchanged line. The Dow was up modestly by 0.4 percent to 25579 and the Nasdaq was flat at 7767.

U.K. markets opened lower on Thursday and stayed that way throughout the session on continued concerns about the health of the global economy. The FTSE 100 fell by 1.1 percent to 7067.

On domestic front Indian shares rebounded from their worst fall in over a month on Wednesday as the U.S. announced a delay in the implementation of tariffs on some Chinese products and a lower than expected wholesale price index reading for July raised hopes of further cuts in interest rates going forward. The benchmark BSE Sensex jumped by 1.0 percent to 37311.

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