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

U.S. stocks rebounded over the course of the trading day on Thursday but pulled back going into the close. The major averages eventually ended the day modestly lower partly offsetting the substantial gains posted in the previous session. The Dow was down by 0.1 percent to 25338 while Nasdaq slipped 0.3 percent to 7273.

U.K. shares followed their U.S. peers higher on Thursday after Federal Reserve Chairman Jerome Powell said that U.S. interest rates were just below neutral implying that the Feds threeyear tightening cycle is drawing to a close. The benchmark FTSE 100 was up by 0.8% to 7057.

On domestic front Indian market rose sharply on Thursday to extend gains for the fourth straight session as tumbling oil prices fresh gains in the rupee and dovish comments from U.S. Federal Reserve Chairman Jerome Powell spurred short covering on the last session of November series derivative contracts

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