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

US stocks showed a lack of direction throughout the trading session on Monday as traders seemed reluctant to make any significant moves. The major averages spent the day bouncing back and forth across the unchanged line. The Dow inched up 0.1 percent to 26949 while the Nasdaq slipped 0.1 percent to 8112.

The UK stocks were moving lower on Monday with banks and miners pacing the decliners as investors awaited more clarity on U.S.China trade talks. The FTSE 100 was down by 0.6 percent to 7298.

On domestic front Indian shares soared for the second day running on Monday with benchmark indexes Sensex and Nifty logging their best ever twoday gains after the government slashed the base corporate tax rate to 22 percent from 30 percent and the GST Council reduced taxes on a number of items and services to boost consumption. The benchmark BSE Sensex was ended up by 2.8 percent to 39090.

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