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

The US stocks saw considerable volatility over the course of the trading session on Thursday with the major averages showing wild swings back and forth across the unchanged line before eventually ending the day in positive territory. The Dow was almost flat at 27223 while the Nasdaq was up by 0.3 percent to 8207.

U.K. stocks fell on Thursday although markets came off their days lows after a government report showed U.K. retail sales recovered unexpectedly in June. The FTSE 100 was down by 0.4 percent to 7502.

On domestic front Indian shares fell notably on yesterday to snap a threeday winning streak after the release of disappointing earnings from the likes of Yes Bank and MindTree. Global cues were tepid and Asian Development Bank (ADB) lowered Indias GDP growth forecast further weighing on markets. The benchmark BSE Sensex fell by 0.8 percent to 38897.

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