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

The US stocks moved sharply higher over the course of the first trading session of 2020 on Thursday extending the substantial upward move seen last year. With the continued advance the major averages reached new record closing highs. Dow surged up 1.2 percent to 28868 and Nasdaq spiked 1.3 percent to 9092.

UK market opened higher on Thursday as the pound held steady and Chinas central bank announced it would slash banks reserve requirement ratio by a further 50 basis points from January 6th. On Tuesday the FTSE 100 was up by 0.9 per cent to 7608.

On domestic front Indian market posted strong gains on Thursday mirroring firm global cues and after the release of a private business survey showing that Indias factory activity expanded at its fastest pace in seven months in December on the back of a jump in new orders. The benchmark BSE Sensex was up by 0.8 percent to 41627.

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