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

The US stocks showed a lack of direction over the course of the trading session on Tuesday. The techheavy Nasdaq pulled back firmly into negative territory but the Dow and the SP 500 spent the day bouncing back and forth across the unchanged line. The Dow edged down 0.1 percent to 24101 and the Nasdaq plunged 1.4 percent to 8607.

UK stocks rose on Tuesday as hopes of easing lockdown restrictions in many countries helped offset weak earnings updates from the likes of HSBC and BP Plc. The FTSE 100 was up by 0.9 percent to 5899.

On domestic front Indian shares rose sharply on Tuesday as financials extended gains from the previous session following the RBIs announcement of Rs 50000 crore liquidity facilities for mutual funds. The benchmark BSE Sensex was up by 1.2 per cent to 32114.

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