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

The US stocks moved significantly higher over the course of the trading session on Monday. The major averages all showed strong moves to the upside on the day. The Dow soared by 3.9 percent to 24597 and the Nasdaq advanced by 2.4 percent to 9235.

UK stocks rallied on Monday with commodityrelated stocks surging as oil prices rose over 1 a barrel supported by output cuts and signs of gradual demand recovery. The FTSE 100 surged by 2.2 percent to 5928.

On domestic front Indian shares succumbed to heavy selling pressure on Monday as rising coronavirus cases in the country as well as disappointment over the governments Rs. 20 lakh crore economic stimulus package overshadowed positive cues from global markets. The benchmark BSE Sensex plunged by 3.4 per cent to 30029.

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