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

US stocks once again came under pressure in afternoon trading on Friday. The major averages pulled back well off their best levels of the day and firmly into negative territory. The Dow fell 0.6 percent to 26935 while the Nasdaq slid 0.8 percent to 8117.

The UK stocks market retreated amid stock specific activity and was hovering around the flat line in midmorning trades. The FTSE 100 was up by 0.1 percent to 7360.

On domestic front Indian shares soared on Friday on uninterrupted buying after Finance Minister Nirmala Sitharaman announced the governments decision to slash effective corporate tax. The benchmark BSE Sensex was ended up by 5.3 percent to 38015.

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