Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 61 points at the opening bell.
Overseas, Asian stocks are trading mixed on Monday, with South Korean stocks surging again on the back of big gains last week. Shares in South Korea's auto sector surged again on Monday following reports that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars. Markets in Japan are closed on Monday for a holiday.
In US, Wall Street scaled new highs on Friday as hopes of more stimulus from Washington were bolstered after U.S. President-elect Joe Biden said his economic package will be in the trillions of dollars.
In economic data, the US economy shed jobs for the first time in eight months in December. Nonfarm payrolls decreased by 140,000 jobs last month, the Labor Department said on Friday. Data for November was revised up to show 336,000 jobs added instead of 245,000 as previously reported.
Back home, the equity market ended with robust gains on Friday, mirroring strong global cues. The S&P BSE Sensex, jumped 689.19 points or 1.43% at 48,782.51. The Nifty 50 index rallied 209.9 points or 1.48% at 14,347.55.
Foreign portfolio investors (FPIs) bought shares worth Rs 6,029.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,372.54 crore in the Indian equity market on 8 January, provisional data showed.
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