Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 36 points at the opening bell.
On the macro front, the industrial production data for August and CPI inflation for September will be released today, 12 October 2020.
Overseas, Asian stocks were mostly trading higher on Monday, as investors clung to hopes for U.S. stimulus spending.
In US, stocks logged gains on Friday as President Donald Trump signaled support for a bigger coronavirus aid package. The Dow Jones Industrial Average closed 161.39 points higher, or 0.6%, at 28,586.90. The S&P 500 gained climbed 0.9% to 3,477.13. The Nasdaq Composite advanced 1.4% to close at 11,579.94.
Investors remained optimistic about another fiscal stimulus package being passed by Congress eventually, encouraged by continued talks between House Democrats and the Trump administration. United States President Donald Trump tweeted: Covid Relief Negotiations are moving along. Go Big! Reports indicated that the White House is preparing a $1.8 trillion stimulus proposal.
The Federal Reserve and U.S. lawmakers have spent trillions of dollars on various measures to keep the economy afloat during the pandemic. Earlier this year, the Fed launched an open-ended bond-buying program and Trump signed a $2.2 trillion package that included enhanced unemployment benefits and direct payments to Americans.
Meanwhile, the second presidential debate between President Donald Trump and Democrat Joe Biden is officially off. The decision was made a day after the commission announced the debate would take place virtually because Trump had contracted the coronavirus. The third debate, scheduled for October 22 in Nashville, Tennessee, is still on.
Back home, domestic benchmark indices ended with modest gains on Friday, rising for the seventh consecutive session. The sentiment got a boost after the Reserve bank of India left its key policy rates unchanged while retaining its accommodative stance. It also announced a slew of measures to ensure adequate liquidity in the banking system. The S&P BSE Sensex, added 326.82 points or 0.81% at 40,509.49. The Nifty 50 index jumped 79.60 points or 0.67% at 11,914.20.
Foreign portfolio investors (FPIs) sold shares worth Rs 39.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 126.61 crore in the Indian equity market on 9 October, provisional data showed.
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