Indian shares were set to open higher on Monday after posting their longest weekly losing streak in 25 years, supported by easing concerns over aggressive US monetary tightening and a pullback in oil prices.

GIFT Nifty futures traded at 22,639 as of 7:57 am IST, indicating a positive start for the Nifty 50, which closed at 22,421.95 on Thursday. Indian markets were shut on Friday for a public holiday.

Both the Nifty 50 and the Sensex logged their eighth straight weekly decline last week, pressured by record foreign selling, crude prices near $100 a barrel and surging global bond yields.

Sentiment improved after softer-than-expected US jobs data reduced the odds of a Federal Reserve rate hike this month, while Brent crude slipped 0.6 percent to $101.6 a barrel as higher Middle East exports eased supply concerns.

HDFC Bank will be in focus after naming Anup Bagchi as its next CEO for a three-year term. Analysts caution that a sustained recovery needs further easing in oil prices and a slowdown in foreign outflows.