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

The US stocks fluctuated over the course of the trading day on Wednesday before eventually finishing the session notably higher. The Nasdaq more than offset the pullback seen on Tuesday ending the day at a new record closing high. The Dow climbed 0.7 percent to 26067 and the Nasdaq surged up 1.4 percent to 10492.

UK stocks drifted lower on Wednesday amid signs of rising U.S.China tensions after reports suggested that U.S. President Donald Trumps top advisers weighed proposals to undermine the Hong Kong currencys peg to the U.S. dollar in a bid to punish banks in Hong Kong. The FTSE 100 was down by 0.4 percent to 6167.

On domestic front Indian shares fell sharply on Wednesday to snap a fiveday winning streak with IT and auto stocks pacing the decliners. The benchmark BSE Sensex was down by 0.9 per cent to 36330.

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