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

The US stocks moved mostly higher over the course of the trading day on Thursday extending a recent rally. With the continued upward move the major averages all reached new record closing highs. The Dow climbed 0.3 percent to 29379 and the Nasdaq advanced 0.7 percent to 9572.

UK stocks eked out modest gains on Thursday after China announced it will halve tariffs on some U.S. imports as part of a phase one trade agreement reached with the U.S. last month. The benchmark FTSE100 up by 0.2 per cent to 7498.

On domestic front Indian shares rose on Thursday to extend gains for the fourth straight session after the Reserve Bank of India (RBI) kept its lending rate unchanged as widely expected but announced steps to boost credit growth to the real estate sector. The benchmark BSE Sensex was up by 0.4 percent to 41306.

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