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

The US stocks turned in a mixed performance on Monday as investors continued to weigh the likely impact of the coronavirus pandemic on the economy despite recent comments from Federal Reserve Chairman Jerome Powell that said interest rates will likely remain lower for a long time. The Dow ended down 0.78 percent at 28430 while the Nasdaq climbed 0.68 percent to 11775.

UK stocks on Friday rose early during the day as Fed Chair Jerome Powell announced a major policy shift to average inflation targeting however local markets pared early gains after new data revealed British business confidence improved for the third consecutive month but remained far below the longterm historical average. Therefore FTSE 100 fell by 0.6 percent to 5964.

On domestic front Indian shares reversed early losses to end deep in the red on Monday with escalating border tensions with China near Ladakh and caution

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