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

U.S. Stocks trimming significant losses from the previous session thanks to bargain hunting. The Dow Jones ended up by 1.3% to 24668 and the Nasdaq closed up by 0.9% to 7462.

U.K. stocks steadied on Wednesday after sharp losses in the previous session triggered by concerns over Italian politics and the countrys future in the European Union. The benchmark FTSE 100 was up by 0.7% at 7690.

On domestic front Indian shares closed lower for the second day running Wednesday as worries about political uncertainty in Italy and Spain as well as fresh fears of a trade war between the U.S. and China sapped investors appetite for risk. The BSE Sensex closed down by 0.1% at 34906.

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