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

U.S. Stocks showed a lack of direction over the course of the trading day following the rally seen in the previous session. The major averages spent the day bouncing back and forth across the unchanged line before closing roughly flat. The Dow edged down to 0.1 percent to 24311 while the Nasdaq edged up by 0.01 percent to 7119.

U.K. shares extended gains from the previous session as weak GDP data weighed on the pound and helped reduce the chances of a rate hike at the Bank of Englands monetary policy meeting on May 10. The FTSE 100 was up by 0.5 percent to close at 7458.

On domestic front Indian shares rose notably during the last trading session on the back of positive global cues and optimism over the ongoing earnings season. The BSE Sensex ended up by 0.7 percent to 34970.

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