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

The US stocks gave back some ground over the course of the trading session on Thursday. The major averages pulled back well off their best levels of the day but still managed to close in positive territory with the Nasdaq reaching a new record closing high. The Dow rose 0.4 percent to 25827 and the Nasdaq advanced 0.5 percent to 10207.

UK stocks fell notably on Friday even as the latest data indicated that the worst phase of the service sector downturn has passed. The FTSE 100 was down by 0.8 percent to 6193.

On domestic front Indian shares rose for the third straight session on Friday even as overall gains remained modest after a survey showed the countrys service sector contracted sharply in June due to the economic disruption caused by Covid19 pandemic. The benchmark BSE Sensex was up by 0.5 per cent to 36021.

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