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

US stocks rose sharply on Monday buoyed by data showing a notable surge in manufacturing activity in the country and on rising hopes about additional stimulus after the House passed a 1.9 trillion coronavirus relief bill on Saturday. The Dow moved up 2 percent to settle at 31536and the Nasdaq closed stronger by 3 percent at 13589.

UK stocks rose sharply on Monday as expectations of faster economic recovery and stimulus hopes helped investors shrug off inflation fears The benchmark FTSE 100 surged 1.9 percent to 6608.

Indian shares rallied on Monday with underlying sentiment supported by firm global cues and data showing the Indian economy has reversed technical recession in 3QFY21. The benchmark BSE Sensex rallied by 1.5 per cent to 49850.

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