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

The US stocks showed a lack of direction over the course of the trading session on Thursday but managed to end the day mostly higher. The Nasdaq posted a particularly strong gain on the day reflecting strength among tech stocks. The Dow inched up 0.1 percent to 23537 and the Nasdaq surged up 1.7 percent to 8532.

UK stocks gave up early gains to trade on a flat note Thursday after data showed plummeting retail sales amid the Covid19 crisis. The FTSE 100 fell by 3.3 percent to 5594.

On domestic front Indian shares fluctuated on Thursday before finishing notably higher for the day on hopes of fiscal stimulus package by the government after various credit rating firms investment banks and multilateral agencies gave drastic projections on Indias FY21 economic growth. The benchmark BSE Sensex was up by 0.7 per cent to 30603.

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