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

The US stocks showed a strong move to the upside over the course of the trading day on Thursday after showing a lack of direction earlier in the session. The Nasdaq jumped to a new record closing high while the SP 500 and the Dow ended the day at their best closing levels in five and two months respectively. The Dow advanced 0.7 percent to 27386 and the Nasdaq surged up 1 percent to 11108.

UK stocks fell sharply on Thursday as Glencore scrapped dividend due to soaring debt and the Bank of England warned of a slower postpandemic economic rebound. The FTSE 100 was down by 1.4 percent to 6023.

On domestic front Indian shares rose sharply on Thursday after the Reserve Bank of India (RBI) left interest rates unchanged as widely expected and maintained an accommodative stance as long as it is necessary to revive growth and mitigate the impact of Covid19 on the economy. The benchmark BSE Sens

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