Indian benchmark indices Sensex and Nifty may open on a muted note on Monday, with GIFT Nifty signalling a largely flat start after four consecutive sessions of losses. Weak Asian markets, elevated crude oil prices and geopolitical tensions could weigh on sentiment, although a decline in oil prices and mildly positive US equity futures may offer some relief. Investors will also remain cautious ahead of the US Federal Reserve's policy decision and major corporate earnings announcements this week.
GIFT Nifty was trading at 22,610 around 8 am, up just 2 points, or 0.01 percent. Indian equities ended lower on Friday, with the Sensex declining 125.56 points, or 0.17 percent, to 73,123.83 and the Nifty falling 87.65 points, or 0.39 percent, to 22,600.
Asian equities traded lower on Monday as investors assessed elevated energy prices, geopolitical uncertainty and the outlook for artificial intelligence investments ahead of a busy week of central bank meetings and corporate earnings. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.1 percent lower.
Japan's Nikkei declined 0.8 percent, extending its weakness after falling 4 percent last week. South Korea's Kospi slipped 0.4 percent, taking its losses for October to nearly 19 percent. US equity futures were mildly positive, with both S&P 500 and Nasdaq futures gaining 0.2 percent, offering some support to global sentiment.
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