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

The US stocks moved mostly higher over the course of the trading day on Monday after showing a lack of direction early in the session. The techheavy Nasdaq closed higher for the seventh straight session reaching a new record closing high. The Dow climbed 153.50 points or 0.6 percent to 26024 and the Nasadq jumped 110.35 points or 1.1 percent to 10056.

UK stocks advanced on Monday although the upside remained capped after the World Health Organization reported a record increase in global coronavirus cases on Sunday and warned the pandemic is entering a new and dangerous phase. The FTSE 100 was up by 0.2 percent to 6306.

On domestic front Indian shares advanced on Monday with banking pharma and metal stocks leading the surge despite the threat of rising coronavirus infections both at home and abroad. The benchmark BSE Sensex rose by 0.5 per cent to 34911.

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