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

The US stocks moved sharply higher during trading on Monday extending the strong upward move seen in the previous session. The major averages all climbed firmly into positive territory amid broad based strength on Wall Street. The Dow jumped 1.5 percent to 27584 and the Nasdaq spiked 1.9 percent to 11117.

UK stocks rose on Monday as upbeat industrial profits data from China helped ease investor concerns over economic recovery. The FTSE 100 ended up by 1.2 to 5914.

On domestic front Indian shares rose sharply on Monday with heavyweight Reliance Industries and private banks leading the rally amid positive cues from global markets. The benchmark BSE Sensex rose by 1.6 percent to 37981.

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