India's NSE stock futures listed on the Singapore exchange were up 0.30% at 18,372.50, as of 7:30 a.m. IST.
Asian markets rebounded after a mixed start on hopes of demand recovery in China, with the MSCI Asia ex Japan rising 0.3%. [MKTS/GLOB]
Reports say that China planned to increase flights to encourage the recovery of its air transport market. The decision comes after the world's second-largest economy eased several restrictions from its zero-COVID policy last week.
Wall Street shares fell on Friday on weak economic data that added to fears of recession, with Dow Jones losing 0.85%, S&P 500 shedding over 1% and the tech-heavy Nasdaq Composite sliding nearly 1%.
Capping gains in Indian markets could be oil prices, which stabilised after a sharp decline in the previous session on optimism from China's easing of COVID-19 restrictions. Brent crude hovered around $80 per barrel. [O/R]
The rise in oil prices is a negative for oil-importing countries like India, where crude constitutes the bulk of the import bill.
Foreign institutional investors sold 19.75 billion rupees ($238.80 million) worth of equities on a net basis on Friday, while domestic investors bought 15.42 billion rupees ($186.44 million) of shares, as per provisional NSE data.
Stocks To Watch:
** Sun Pharma: Co receives warning letter from U.S. FDA for Halol facility.
** Tata Motors: Bengaluru Metropolitan Transport Corp signs definitive deal with co's unit for operating 921 electric buses.
** Tech Mahindra: Co approves sale of 100% stake in Dynacommerce Holdings B.V for 6.6 mln euros.
** Dilip Buildcon: Co gets order worth 16.47 billion rupees.
($1 = 82.7060 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
