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

The US stocks showed a strong move back to the upside during trading on Monday. The major averages moved sharply higher but only partly offset their recent steep losses. The Dow skyrocketed 5.1 percent to 26703 and the Nasdaq soared 4.5 percent to 8952.

UK stocks rebounded on Monday after the Bank of England said it would take all necessary steps to maintain market stability. The United Kingdom reported a total of 36 coronavirus cases as of Sunday. The benchmark FTSE 100 was up by 0.8 per cent to 6638.

On domestic front Indian shares gave up early gains to end lower on Monday after two people from Delhi and Telangana tested positive for the coronavirus. The benchmark BSE Sensex fell by 0.4 percent to 38144.

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