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

US stocks moved significantly higher over the course of the trading session. With the upward move on the day the major averages extended their recent winning streak to five sessions. The Dow Jones ended up 1.2% to close at 25200 and the Nasdaq Composite edged advanced to 1.6% to 7256.

U.K. shares extended gains with energy and mining stocks climbing as oil and base metals prices surged on dollar weakness after the release of mixed economic reports in the U.S. The FTSE 100 was up by 0.3% to close at 7235.

On domestic front Indian shares opened modestly higher tracking firm global markets as investors took in their stride signs of inflation pickup in the U.S. and the possibility of an interest rate increase at next months Fed policy meeting. The Sensex ended on an upside front of 0.4% at 34297 while the Nifty ended at 10546 with an upside of 0.4%.

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