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

US stocks showed a lack of direction throughout much of the trading day on Tuesday as traders looked ahead to the Federal Reserves monetary policy announcement on Wednesday. The major averages spent most of the session bouncing back and forth across the unchanged line. The Dow inched up 0.1 percent to 27110 and the Nasdaq climbed 0.4 percent to 8186.

The UK stocks ended mostly lower on Monday as investors stayed cautious amid rising geopolitical tensions in the Middle East after drone attacks on Saudi oil facilities. The FTSE 100 was down by 0.6 percent to 7321.

On domestic front Indian succumbed to heavy selling pressure on Tuesday amid concerns that Indias current account and fiscal deficit might take a hit because of rising oil prices following attacks on Saudi oil facilities. The benchmark BSE Sensex was ended down by 1.7 percent to 36481.

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