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

The US stocks showed a strong move to the upside during trading on Monday adding to the gains posted last week. With the continued upward move the major averages all ended the session at new record closing highs. The Dow was up by 0.4 percent to 28235 and Nasdaq rose 0.9 percent to a new record closing high of 8814.

UK stocks rose on Monday with heavyweight banks and miners leading the way as Prime Minister Boris Johnson prepares to appoint top ministers to his cabinet. The FTSE 100 increased by 2.2 per cent to 7514.

On domestic front Indian shares hit a fresh record high on Monday before reversing direction to end lower after a government report showed that Indias wholesalepricebased inflation rose to 0.58 percent in November from 0.16 percent in October due to increase in prices of food articles. The benchmark BSE Sensex was down by 0.2 per cent to 40938.

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