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

The US stocks fluctuated over the course of the trading session on Thursday but largely maintained a positive bias. The SP 500 reached a new record closing high and the Dow ended the day at its best closing level in over six months although the techheavy Nasdaq eventually ended the day in the red. The Dow increased by 0.6 percent at 28492 while the Nasdaq fell by 0.3 percent to 11625.

UK stocks drifted lower on Thursday with escalating tensions between the United States and China over the South China Sea keeping investors nervous. The FTSE 100 drifted by 0.5 percent to 6017.

On domestic front Indian shares ended higher on Thursday despite some volatility in the second half of the trade due to the expiry of August series derivative contracts. The benchmark BSE Sensex inched up by 0.1 percent to 39113.

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