Market may open higher

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 35 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday as developments on the coronavirus pandemic continue to be watched by investors.

On Sunday, the U.S. Food and Drug Administration issued an emergency use authorization of convalescent plasma for hospitalized Covid-19 patients, a treatment that uses blood plasma donated by people who've recovered from the virus. President Donald Trump said that the plasma treatment cuts mortality rate by 35%.

Meanwhile, U.S. President Donald Trump's administration is reportedly considering fast tracking an experimental coronavirus vaccine developed in the U.K. for use stateside ahead of the nation's upcoming presidential election.

In US, the S&P 500 and Nasdaq closed at record highs on Friday, as data pointed to some pockets of strength in the U.S. economy. U.S. business activity snapped back to the highest since early 2019 in August, according to IHS Markit surveys, as companies in both manufacturing and services sectors saw a resurgence in new orders.

Domestic markets:

Back home, key benchmarks ended with decent gains on Friday, mirroring positive cues from other Asian markets. The barometer index, the S&P BSE Sensex rose 214.33 points or 0.56% at 38,434.72. The Nifty 50 index gained 59.40 points or 0.53% at 11,371.60.

Foreign portfolio investors (FPIs) bought shares worth Rs 410.16 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 250.65 crore in the Indian equity market on 21 August, provisional data showed.

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