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

The US stocks gave back some ground as the session progressed. The major averages pulled back well off their highs of the session but managed to remain firmly in positive territory. The Dow rose 0.5 percent to 28399 and the Nasdaq jumped 1.3 percent to 9273.

UK stocks were modestly higher on Monday and the pound slid after Britain finally exited the European Union at 11pm on Friday. The benchmark FTSE 100 up by 0.4 per cent to 7313.

On domestic front Indian shares rebound on Monday after three days of losses. Sentiment was underpinned after a private survey showed that activity in Indias beleaguered manufacturing sector hit a near eightyear high in January. The benchmark BSE Sensex was up by 0.3 percent to 39872.

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