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

The US stocks showed a strong move to the upside over the course of the trading session on Monday more than offsetting the modest pullback seen last week. With the upward move the major averages ended the day at new record closing highs. The Dow rose by 0.7 percent to 28066 and the Nasdaq rallied by 1.3 percent to 8632.

The UK stocks rose on Monday with financials and miners pacing the gains after both Washington and Beijing made positive comments on the potential for a trade deal between them. The FTSE 100 was moved upwards by 0.6 percent to 7373.

On domestic front Indian markets rallied yesterday amid acrosstheboard buying as investors cheered media reports suggesting that China and the United States were very close to a phase one trade deal. The benchmark BSE Sensex surged by 1.3 per cent to 40889.

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