Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 31.50 points at the opening bell.

Overseas, Asian shares were trading higher on Monday as investors awaited developments on the US-China trade front.

US stocks closed higher Friday, buoyed by encouraging headlines on US-China trade negotiations and Chinese assurances of forthcoming economic stimulus. According to reports, Chinese Premier Li Keqiang expressed optimism that a trade deal between China and the US can be achieved that suits both parties.

China will stick to its current targeted economic support strategy and resist the temptation to engage in large-scale stimulus like quantitative easing or a massive expansion in public spending, Li Keqiang added.

On the US data front, the New York Fed's Empire State index fell to a reading of 3.7 in March from 8.8 in the prior month. US industrial production rose by 0.1% in February. January's figure, however, was raised to show a 0.4% drop. Job openings in the US rose to 7.58 million in January, the third-highest level on record, according to the Labor Department.

Consumer sentiment rose in March to 97.8 from 93.8 in February, according to a preliminary reading of the University of Michigan consumer sentiment index.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 4323.49 crore on 15 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 2,130.36 crore on 15 March 2019, as per provisional data.

Domestic stocks ended with modest gains after volatile a session on Friday, 15 March 2019. Positive global stocks boosted sentiment. The Sensex settled above the psychological 38,000 level after moving above and below that level in intraday trade. The barometer index, the S&P BSE Sensex, gained 269.43 points or 0.71% to settle at 38,024.32. The Nifty 50 index rose 83.60 points or 0.74% to settle at 11,426.85.

India's trade deficit plunged 22% to 17-month low of $9.60 billion in February 2019 from $12.30 billion in February 2018. Merchandise exports rose 2.4% to $26.67 billion in February 2019 over a year ago. Merchandise imports dipped 5.4% to $36.26 billion. Oil imports declined 8.1% to $9.38 billion, while the non-oil imports also fell 4.4% to $26.89 billion in February 2019 over February 2018. The share of oil imports in total imports was 25.9% in February 2019, compared with 26.6% in February 2018.