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

The US stocks moved sharply higher over the course of the trading session on Thursday as traders shrugged off data showing a spike in firsttime jobless claims. The Dow and the SP 500 closed higher for the third straight day climbing further off Mondays threeyear lows. The Dow spiked 1351.62 points or 6.4 percent to 22552 and the Nasdaq soared 413.24 points or 5.6 percent to 7797.

UK stocks fell sharply on Thursday as lingering worries about a global recession prompted traders to book some profits after sharp gains the previous day. The FTSE 100 was down by 2.7 percent to 5547.

On domestic front Indian shares rose for a third straight session on Thursday amid short covering as futures and options contracts for the month of March expired. The benchmark BSE Sensex was up by 4.9 percent to 29947.

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