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

The stocks showed a significant rebound over the course of the trading day on Thursday. The major averages climbed well off their worst levels of the day with the techheavy Nasdaq bouncing into positive territory. The Dow fell by 0.9 percent to 26314 while the Nasdaq moved up by 0.4 percent to 10588.

UK stocks fell sharply yesterday as coronavirus infections continued to rise around the world and the latest batch of earnings disappointed. Investor sentiment was further dampened over a warning from the Fed that the U.S. economic outlook is darkening. The FTSE 100 plunged by 1.4 percent to 6042.

On domestic front Indian shares fell yesterday amid mixed global cues and the expiry of July series derivative contracts. Banks and financials paced the declines on worries about a further deterioration in their asset quality. The benchmark BSE Sensex fell by 0.9 percent to 37736.

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