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

US markets had a mixed session, which saw poor economic data along with a merger announcement between Amazon and Whole Foods. The U.S. Commerce Department said housing starts slumped by 5.5 percent to an annual rate of 1.092 million in May from the revised April estimate of 1.156 mln. This decline was much lower than estimates which was a gain of 1.215 million from 1.172 million.

UK stocks had a positive session as the next round of financing for the Greek government was approved by Eurozone ministers BP Plc closed up about 1 percent on news of its plans to invest $6bln in the D6 gasfield in the KG Basin along with Reliance Industries. Retailer Tesco tumbled 4.92 percent, despite posting its strongest U.K. sales growth in seven years.

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