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

The US stocks showed a lack of direction for much of the trading session on Tuesday but managed to end the day mostly higher. The major averages benefited from a late move to the upside after spending the day bouncing back and forth across the unchanged line. The Dow climbed 0.6 percent to 26828 and the Nasdaq rose 0.4 percent to a new record closing high of 10941.

UK stocks were fluctuating on Monday as a slide in HSBC shares offset investor optimism over data showing a jump in Chinese and domestic and factory activity. The FTSE 100 plunged by 1.5 percent to 5898.

On domestic front Indian shares rallied on Tuesday amid short covering as the Reserve Bank of Indias (RBI) Monetary Policy Committee (MPC) began its threeday deliberations and a slew of encouraging economic data from Europe China and the U.S. raised hopes for a quick economic rebound from the coronavirus pandemic. The benchmark B

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