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

US stocks saw significant weakness during trading on Thursday extending the moderate downward move seen in the previous session. With the steep drop on the day the techheavy Nasdaq ended the session at its lowest closing level in over two months. The Dow tumbled by 1.1 percent to 25490 and the Nasdaq plummeted by 1.6 percent to 7628.

U.K. stocks fell sharply on Thursday as persistent U.S.China China trade tensions and Brexit worries dented investors appetite for riskier assets. FTSE 100 plunged by 1.3 percent at 7235.

On domestic front Indian shares hit record highs on Thursday before reversing direction to end lower as investors booked intraday profits after recent strong gains on expectations that Modi will win a second term as prime minister. The benchmark BSE Sensex fell by 0.8 percent to 38811.

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