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

The US stocks saw further upside over the course of the trading day on Monday. With the rally on the day the major averages more than offset the steep losses posted last week. The Dow jumped by 7.7 percent to 22680 and the Nasdaq surged by 7.3 percent to 7913.

UK stocks rallied on Monday as investors cheered news of a slowdown in coronavirus deaths across Europe. The FTSE 100 rose by 2 percent to 5521.

On domestic front Indian markets were closed yesterday on account of Mahavir Jayanti. On Friday the Indian shares fell for the second straight session as coronavirus cases in the country continued to rise despite a complete lockdown to curb the spread of the disease. The benchmark BSE Sensex fell by 2.4 per cent to 27591.

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