A gap-down open is likely for domestic equity markets amid weak global cues and rising crude oil prices. At 7:50 am, the SGX Nifty Futures quoted at 17,039 levels, down over 250 points.
Globally, the US markets were on a slippery slope on Friday as strong jobs data re-ignited fears of higher interest rates. Tech-heavy index NASDAQ Composite shed the most, over 3 per cent in trade. Dow Jones and NASDAQ Composite, meanwhile, declined over 2 per cent each.
Tracking negative global cues, markets in Asia-Pacific, too, edged lower on Monday. Key indices like S&P 200, Shanghai Composite, and Hang Seng fell up to 2 per cent.
On the commodities front, prices of Brent Crude continued to remain above $95 per barrel after the OPEC+ slashed oil supply. WTI Crude, on the other hand, quoted at $91 per barrel.
Back home, shares of Tata Consultancy Services will be in focus as the IT giant will kick off July to September quarter results (Q2FY23) on Monday, October 10.
That apart, shares of FMCG firms like HUL and GCPL will be tracked too, after the company slashed prices of soap products by up to 15 per cent.
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