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

US Stocks shot higher late in the trading day on Thursday. The major averages gave back ground after the spike but managed to remain firmly in positive territory. The Dow advanced 0.7 percent to 24370 and Nasdaq rose 0.7 percent to 7084.

U.K. stocks moved lower on Thursday to extend losses from the previous session as weak results from French bank Societe Generale dragged down banks and more worrying housing data pulled down housebuilders. The FTSE 100 was down by 0.5% to 6822.

On domestic front Indian shares rose for the third straight session on Thursday although overall gains remained modest ahead of key corporate earnings and the upcoming interim budget. During the trading session the BSE Sensex was up by 0.2% to 36374.

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