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

The US stocks showed a strong move back to the upside during trading on Tuesday. The major averages moved significantly higher but remain well off their recent record highs. The Dow increased by 0.7 percent to 28723 and the Nasdaq jumped by 1.4 percent to 9270.

UK stocks were flat to slightly higher on Tuesday as investors sought bargains after recent selloff on concerns over the corona virus outbreak in China. The benchmark FTSE 100 were almost flat at 7417.

On domestic front Indian shares failed to hold early gains on Tuesday as corona virusrelated worries persisted and caution set in ahead of the Union Budget due later this week with investors expecting strong measures to revive sagging growth. The benchmark BSE Sensex fell by 0.5 percent to 40967.

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