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

The US stocks gave back some ground over the course of the trading session on yesterday. The major averages pulled back well off their best levels of the day but still managed to close in positive territory with the Nasdaq reaching a new record closing high. The Dowe was up by 0.4 percent to 25827 and the Nasdaq rose by 0.5 percent to 10208.

UK stocks rose on Thursday with encouraging manufacturing data from across the globe and hopes that a coronavirus vaccine would be developed helping boost investor sentiment. The FTSE 100 inched up by 0.9 percent to 6123.

On domestic front Indian shares rose sharply on yesterday to close at fourmonth highs with information technology companies and automakers pacing the gainers. IT stocks gained ground as U.S. democratic presidential candidate Joe Biden vowed to immediately lift the curbs on H1B and other work visas extensively used by Indian professi

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