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

U.S. stocks showed a significant rebound over the course of the trading day on Wednesday. The major averages fluctuated early in the session but moved sharply higher as the day progressed. The Dow soared 5 percent to 22878 and Nasdaq spiked 5.8 percent to 6554.

U.K. market closed on Boxing Day. The benchmark FTSE 100 was down by 0.6% to 6679 during the last trading session.

On domestic front Indian shares rebounded strongly after a steep slide and ended on a firm note on Wednesday snapping a threeday losing streak with traders indulging in some hectic shortcovering ahead of expiry of near month derivatives contracts tomorrow. During the last trading session the BSE Sensex was up by 0.5% to 35650.

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