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

U.S. stocks moved significantly higher over the course of the trading day adding to the gains posted in the previous session. With the continued upward move on the day the Dow reached its best closing level in a month. The Dow Jones ended up by 0.9% to close at 24786. The NASDAQ ended up by 1.7% to close at 7281.

U.K. shares erased early losses to edge higher after a government report showed U.K. wages grew faster than inflation for the first time in almost a year in February helping cement expectations for a rate hike at the next MPC meeting in May. The FTSE 100 was closed up by 0.2% to end at 7212.

On domestic front Indian shares extended their winning streak to a ninth straight session after the India Meteorological Department (IMD) forecast that the country will receive normal monsoon for a third consecutive year. The BSE Sensex ended up by 0.3% at 34395.

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