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

U.S. stocks moved mostly higher during trading on Tuesday as traders shrugged off concerns about the escalating trade war between the U.S. and China. The strength on the day came on the heels of the pullback seen in the previous session. The Dow climbed 0.7 percent to 26246 and the Nasdaq advanced 0.8 percent to 7956.

UK stocks were modestly higher on Tuesday as investors took in their stride the U.S. announcement of a 10 percent tariff on about 200 billion in imports from China staring next week. The FTSE 100 was up 0.2 percent at 7313.

On domestic front Indian stocks fell for the second straight session on Tuesday with staterun banks coming under heavy selling pressure after the government announced the merger of Bank of Baroda Vijaya Bank and Dena Bank. The BSE Sensex moved downwards by 0.8% to 37290.

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