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

US markets continued to show lack of direction as traders seemed uncertain about the near term outlook for the markets after the Dow and S&P 500 reached record high last week. While NASADQ fell 18 points, the Dow Jones went up by 15 points. On the economic front new orders for U.S manufactured durable goods fell by more than expected in the month of May, according to a report released by the commerce department.

The European markets closed on a positive note on Monday, with banks leading the gains, after Italy moved to shore up confidence in its fragile banking system.

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