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

The US stocks moved sharply higher in morning trading on Wednesday before seeing considerable volatility late in the session. The major averages pulled back well off their highs but moved back to the upside going into the close of trading. The Dow jumped 1.2 percent to 27781 and the Nasdaq climbed 0.7 percent to 11167.

UK stocks edged lower on Wednesday with renewed concern about the economic impact of rising coronavirus cases and increasing uncertainty around the U.S. election keeping investors nervous. The FTSE 100 ended down by 0.2 to 5885.

On domestic front Indian shares shrugged off weak global cues to end slightly higher on Wednesday. FMCG IT and healthcare stocks gained ground while banks and metal stocks underperformed. The benchmark BSE Sensex rose by 0.3 percent to 38067.

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