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

The US markets showed a lack of direction over the course of the trading day on Thursday. The major averages spent the day bouncing back and forth across the unchanged line. Dow inched up 0.1 percent to 27677 and Nasdaq crept up 0.1 percent to 8570.

The UK stocks edged lower on Thursday with exporters suffering losses as the pound continued to rise on expectations that next weeks general election will not result in a hung parliament. The FTSE 100 was down by 0.2 per cent to 7175.

On domestic front Indian shares fell on Thursday with ratesensitive banking and auto stocks pacing the decliners after the Reserve Bank of India (RBI) kept its policy rate unchanged surprising market participants who were expecting at least a 25basis points rate cut. The benchmark BSE Sensex was down by 0.2 per cent to 40779.

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