Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 47.50 points at the opening bell on negative global cues.

The S&P BSE Sensex, a gauge comprising 30 top shares, is set to be reconstituted on Monday, 18 June 2018. As a part of the rejig, Vedanta will replace Dr Reddy's Laboratories in the Sensex pack.

Overseas, Asian shares fell as investors digested the escalation in trade tensions between the US and China after both countries announced tariffs last week. Markets in China, Hong Kong, Taiwan and Indonesia were closed on Monday for holidays.

Trump administration last week said it will impose a 25% tariff on a list of 818 items of Chinese goods worth around $34 billion beginning 6 July. Measures affecting an additional 284 products worth $16 billion will be subject to review before taking effect.

In response, China said a 25% tariff will be implemented on US goods, including soybeans and electric vehicles, worth $34 billion starting 6 July. Another list of US imports worth $16 billion will be subject to review before being applied.

US stocks ended lower on Friday, but well off the lows of the sessions as investors looked past signs of escalating Washington-Beijing trade tensions.

On the data front, the Empire State manufacturing survey rose 4.9 points in June to a reading of 25, the highest reading since October. Separately, manufacturing production declined 0.7% in May, while capacity utilization dropped to 77.9% from 78.1% in the previous month. Further, the University of Michigan's gauge of consumer sentiment rose to 99.3 in June.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1524.74 crore on Friday, 15 June 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 561.01 crore on Friday, 15 June 2018, as per provisional data.

Key benchmark indices logged small gains after a volatile session on Friday, 15 June 2018. The barometer index, the S&P BSE Sensex, rose 22.32 points or 0.06% to settle at 35,622.14. The Nifty 50 index rose 9.65 points or 0.09% to settle at 10,817.70. Stocks from IT and pharma sectors gained as the rupee weakened against the dollar.