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

The US stocks showed a strong move to the upside in early trading on Monday and remained firmly positive throughout the session. With the upward move on the day the major averages partly offset the steep losses posted last Friday. While the Dow jumped 1.1 percent to 25898 and the Nasdaq soared 1.3 percent to 7853.

The UK stocks rose notably on Friday as the pound retreated from a threeweek high hit the previous day in reaction to German Chancellor Angela Merkels comments on possible Brexit resolution. The FTSE 100 was up by 0.7 per cent to 7178.

On domestic front Indian shares posted strong gains on Monday after the government announced several measures to revive the slowing economy and oil prices tumbled pushing U.S. crude to its lowest in more than two weeks amid escalating trade tensions between the U.S. and China. The benchmark BSE Sensex ended up by 2.2 percent to 37494.

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