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

The US stocks moved back to the upside during trading on Monday. The major averages all climbed into positive territory although buying interest was somewhat subdued. Dow moved up by 0.4 percent to 26917 and the Nasdaq rose by 0.8 percent to 7999.

The UK stocks edged lower yesterday and the pound started the week on the front foot after the second estimate showed that Britains economy has grown a little faster than previously thought over the last year. The FTSE 100 dipped by 0.2 percent to 7409.

On domestic front Indian shares fell yesterday to erase some of last weeks gains as investors awaited a slew of macro data as well as the outcome of an upcoming RBI policy meeting for directional cues. The benchmark BSE Sensex fell by 0.4 percent to 38667.

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