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

U.S. stocks showed a lack of direction over the course of the trading day on Tuesday as traders looked ahead to the Federal Reserves monetary policy decision. The major averages spent the day bouncing back and forth across the unchanged line before closing mixed. While the Dow fell 0.3 percent to 26492 the Nasdaq was up by 0.2 percent to 8007.

UK stocks were modestly higher yesterday with higher oil prices and strong firsthalf results from clothing retailer Next Plc underpinning investor sentiment on a light day on the economic front. The FTSE 100 was up by 0.2 percent at 7475.

On domestic front Indian stocks seesawed on Tuesday before ending sharply higher to snap a fiveday losing streak. The markets recovered after LIC Chairman VK Sharma told reports the insurance behemoth will not allow ILFS to collapse and would explore all options including increasing the equity holding in ILFS

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