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

The US stocks showed a significant turnaround over the course of the trading day on Monday. The major averages all bounced well off their early lows and into positive territory.The Dow inched up by 0.1 percent to 23750 and the Nasdaq sped up by 1.2 percent to 8711.

UK stocks edged lower on Monday as rising tensions between the U.S. and China over the origin of coronavirus weighed on sentiment. The FTSE 100 dipped by 0.3 percent to 5748.

On domestic front Indian shares witnessed brutal selling on Monday as weak earnings updates from the likes of Reliance Industries Hindustan Unilever and Tech Mahindra as well as rising U.S.China tensions over coronavirus dented risk sentiment. The benchmark BSE Sensex was plunged by 5.9 per cent to 31715.

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