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

US stocks moved sharply higher over the course of the trading session. With the continued strength on the day the major averages further offset the selloff seen earlier this month.The Dow Jones ended on an upside front of 1.6% to close at 25709 and the Nasdaq Composite edged up to 1.1% to 7421.

U.K. shares were off their days highs after Bank of England Deputy Governor Dave Ramsden said in an interview with the Sunday Times the U.K. interest rates are likely to rise somewhat sooner rather than later if wage growth improves. The FTSE 100 was ended on an upside front of 0.6% at 7290.

On domestic front Indian shares rose for a second straight session as investors brushed aside worries over the Rs 11300crore fraud case at Punjab National Bank and looked ahead to key macroeconomic data due this week for direction. The Sensex ended on an upside front of 0.9% at 34446 while the Nifty ended at

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