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

U.S. Stocks once again staged a recovery attempt over the course of the trading day on Thursday. The major averages climbed well off their worst levels of the day but still closed in negative territory. The Dow Jones dipped by 0.3% to 24811 and the Nasdaq was flat 0.0% at 7424.

U.K. stocks gave up earlier gains to turn lower on yesterday as the pound climbed against its major rivals after the release of upbeat retail sales data. Retail sales volume including auto fuel expanded 1.6 percent monthonmonth in April in contrast to a 1.1 percent fall in March official data showed. Sales were forecast to climb 0.9 percent. The benchmark FTSE 100 was down by 0.9% at 7717.

On domestic front Indian shares rose sharply on Thursday with IT stocks leading the surge as a weakening rupee helped lift IT stocks. The trading started flat with dovish Fed minutes as well as a drop in crude oil prices offer

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