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

U.S. stocks showed a strong move to the upside during trading on Monday adding to the gains posted last week. With the upward move on the day the Nasdaq and the SP 500 climbed to new record closing highs and the Dow reached its best closing level in nearly seven months. The Dow Jones was up by 1% to 26050 and the Nasdaq was up by 0.9% to 8018.

The London markets were closed yesterday for a bank holiday.

On domestic front Indian stocks surged yesterday to close at fresh record highs with firm cues from global markets falling inflation expectations and hopes for robust corporate earnings supporting underlying sentiment. The BSE Sensex climbed up by 1.2% to 38694.

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