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

The US stocks extended the upward move with a substantial rally during trading on Thursday. With the jump on the day the Nasdaq and the SP 500 more than offset Mondays steep losses. The Dow surged up 371.12 points or 1.4 percent to 26378 and the Nasdaq soared 2.2 percent to 8039.

U.K. stocks edged higher on Thursday with miners leading the surge after China reported betterthanexpected export growth in July. The FTSE 100 was up by 0.1% to 7202.

On domestic front Indian shares posted strong gains on Thursday as investors cheered reports suggesting that the government may restructure the budget proposal of a superrich tax surcharge on foreign portfolio investors (FPIs). The benchmark BSE Sensex was up by 1.8% to 37327.

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