Indian markets are likely to open flat with a positive bias tracking SGX Nifty and Asian markets, said Angel Broking in its report.

After initially moving to the downside, US market turned in a lackluster performance over the course of trading session on Friday. Even with the choppy trading, the major averages managed to reach new record closing highs. Profit taking contributed to the initial weakness on Wall Street, although traders seemed somewhat reluctant to make significant moves.

The majority of the European markets ended Friday's session in the red, extending their losses from the previous session. The recent rally in Europe and on Wall Street appears to be running out of steam due to uncertainties over the U.S. fiscal and monetary policies.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.