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

US stocks showed a lack of direction over the course of the trading session before ending the session modestly lower. The Dow Jones ended on a downside front of 1.0% to close at 24965 and the Nasdaq Composite edged down to 0.1% to 7234.

U.K. shares were trading lower as investors weighed disappointing earnings updates from the likes of HSBC Holdings and BHP Billiton. The FTSE 100 was ended on a flat note at 7247.

On domestic front Indian shares succumbed to selling pressure for the third day as worries intensified about fallout from a 1.77 billion fraud at Punjab National Bank and investors waited for the minutes of the latest Federal Reserve meeting for clues on the U.S. rate outlook. The Sensex ended on a downside front of 0.2% at 33704 while the Nifty ended at 10360 with a downside of 0.2%.

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