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

The US stocks moved mostly higher during the trading session on Monday rebounding following the pullback that was seen last week. Buying interest was somewhat subdued however limiting the upside for the major averages. The Dow edged up 0.1 percent to 27171 and the Nasdaq climbed 0.7 percent to 8204.

U.K. stocks rose on Monday as gains in oil prices helped lift energy stocks. As hopes fade for aggressive Fed rate cuts in July investors now await the outcome of tomorrows U.K. leadership election for further direction. The FTSE 100 was up by 0.4 percent at 7541.

On domestic front Indian shares fell notably on Monday with weak global cues and concerns over rising foreign fund outflows weighing on markets. The benchmark BSE Sensex fell by 0.8 percent to 38031.

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