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

US Stocks after showing a strong move to the upside in morning trading on Wednesday gave back some ground in the afternoon but still closed mostly higher. The upward move lifted the Nasdaq and the SP 500 to their best closing levels in about six months. The Dow inched higher by 0.2 percent to 26218 while the Nasdaq went up by 0.6 percent higher to 7896.

U.K. Market ended higher on Wednesday extending recent gains as growing optimism about progress in U.S.China trade talks outweighed some disappointing economic data out of U.S. and Europe. The FTSE 100 was up by 0.4% to 7418.

On domestic front Indian shares gave up early gains to end lower on Wednesday after private weather agency Skymet forecast a belownormal monsoon this year citing a developing El Nino phenomenon marked by a warming of the sea surface on the Pacific Ocean. The benchmark BSE Sensex was ended down by 0.5% to 38877 a

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