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

US stocks regained some ground early in the trading day on Friday. However the major averages were unable to sustain the initial upward move and pulled back well off their highs over the course session. The Dow rose 0.4 percent to 25585 and the Nasdaq edged up 0.1 percent to 7637.

U.K. stocks rose notably on Friday and the pound was little changed after Prime Minister Theresa May announced that she will resign as Conservative leader on Friday 7 June following the backlash against her new Brexit deal. FTSE 100 was up by 0.8 percent at 7282.

On domestic front Indian shares posted strong gains on Friday to end near the days highs as investors cheered Prime Minister Narendra Modis landslide win in Lok Sabha election as well as a steep fall in oil prices overnight. The benchmark BSE Sensex was up by 1.6 percent to 39434.

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