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

After initially coming under pressure, US market showed a lack of direction during trading on Monday. The major averaged spent the day bouncing back and forth across the unchanged line. The initial drop by stocks came amid weakness overseas following the decision by Republican leaders to withdraw their bill to repeal and replace Obamacare.

The European markets weakened Monday, as investors had their first opportunity to react to the failure of a Republican bill to repeal and replace Obamacare. House Republican leaders decided to withdraw the bill amid indications of a lack of support late last Friday. The inability to advance the bill has cast doubt on U.S. President Trump's ability to deliver on promises of increased infrastructure spending, tax cuts and deregulation.

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