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

US stocks showed a notable advance late in the trading day on Thursday. With the lateday jump the major averages extended the strong upward move seen over the two previous sessions. The Dow advanced 0.7 percent to 25720 and the Nasdaq rose 0.5 percent to 7615.

U.K. stocks advanced on Thursday as oil prices recovered some ground after falling into a bear market and investors bet on fresh stimulus from global central banks. FTSE 100 was up by 0.6 percent at 7267.

On domestic front Indian market fell sharply on Thursday after the Reserve Bank of India (RBI) cut the repo rate by 25 bps as widely expected but slashed the economic growth forecast for the current fiscal to 7 percent citing a slowdown in domestic demand and escalation in global trade war. During the last trading session benchmark BSE Sensex was ended down by 1.4 percent to 39529.

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