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 day on Monday extending the upward move seen in the previous session. With the advance on the day the Nasdaq and the SP 500 reached their best closing levels in well over a month. The Dow jumped 1.5 percent to 24133 and the Nasdaq advanced 1.1 percent to 8730.

UK stocks rallied on Monday as Italy followed several other European countries in announcing that it will begin to phase out current coronavirus lockdown measures. Weak retail sales data also spooked markets. The FTSE 100 was up by 1.7 percent to 5852.

On domestic front Indian shares rose sharply on Monday with financials surging after the Reserve Bank of India (RBI) rolled out a special liquidity facility worth Rs. 50000 crore for mutual funds to ease the pressure due to the coronavirus pandemic. The announcement came days after Franklin Templeton Mutual Fund deci

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