''Indian equity markets are expected to open on a positive note. However, in the absence of any key trigger, they are expected to trade in a range bound manner in the near term. Investors are advised to continue the staggered buying approach to build a long term portfolio,'' said ICICIdirect.

Domestic markets ended positive on reports that ahead of its annual sovereign rating scheduled for next month, rating agency Fitch, in its report, had underscored that sustained fiscal consolidation, structural reforms and low inflation were positive for India's ratings.
 
US markets ended positive as People's Bank of China governor Zhou Xiaochuan talked about additional stimulus for the Chinese economy and higher-than-expected US pending home sales data.

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