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

The US stocks remained firmly positive throughout the trading session on Wednesday. With the upward move on the day the major averages more than offset the pullback seen in the previous session. The Dow and the Nasdaq jumped by 0.9 percent to 26203 and 8020 respectively.

The UK stocks rose sharply on Wednesday tracking gains elsewhere across Europe after reports that the German government had agreed a draft law largely scrapping the socalled “Solidarity Surcharge” on income tax to shore up Europes largest economy. The FTSE 100 surged by 1.1 percent to 7210.

On domestic front Indian fell notably on Wednesday amid mixed global cues and in the absence of any stimulus package from the Modi government to arrest economic slowdown. Rising oil prices also dented sentiment. The benchmark BSE Sensex fell by 0.7 percent to 37060.

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