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

The US stocks showed a significant rebound over the course of the session. The major averages all climbed well off their early lows and into positive territory. The Dow inched up 0.2 per cent to 28703 and the Nasdaq increased by 0.6 per cent to 9071.

UK stocks tumbled yesterday even as soaring oil prices pushed energy stocks higher. The British pound held around 1.31 as investors awaited a parliamentary debate on Brexit legislation. The benchmark FTSE 100 plunged by 1 per cent to 7544.

On domestic front Indian shares tumbled on Monday and the rupee nosedived below the 72mark against the dollar after oil prices surged to sixmonth highs raising concerns over fiscal deficit and CAD imbalances. The benchmark BSE Sensex dived by 1.9 percent to 40677.

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