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

The US stocks moved significantly higher over the course of the trading session on Monday adding to the gains posted last week. With the upward move the Nasdaq and the SP 500 reached new record closing highs while the Dow ended the session at its best closing level in six months. The Dow surged 1.4 percent to 28308 and the Nasdaq climbed up 0.6 percent to 11380.

UK stocks rallied on yesterday as the U.S. authorized a new coronavirus treatment and investors cheered signs of a thaw in U.S.China tensions. The FTSE 100 rallied up by 1.9 percent to 6115.

On domestic front Indian shares rose sharply yesterday with positive global cues helping underpin sentiment amid hopes for a coronavirus treatment as well as signs of a thaw in U.S.China tensions. The benchmark BSE Sensex was up by 1 percent to 38799.

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