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

The US stocks moved mostly higher during the trading session on Monday extending the upward move seen last Friday. The major averages ended the session off their best levels of the day but still firmly in positive territory. The Dow rose 0.5 percent at 27091 while the Nasdaq jumped by 1 percent at 8326.

The UK stocks drifted lower on Monday as HSBC warned of a challenging outlook after posting a drop in third quarter earnings and the pound picked up some pace on speculation the Prime Minister may have the number of votes required to trigger an election. The FTSE 100 dipped by 0.2 percent to 7308.

On domestic front Indian markets were closed yesterday on account of Diwali. On Friday shares ended the session little changed though banking stocks surged after State Bank of India the countrys largest lender reported a more than threefold increase in its net profit in the September quarter hel

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