Indian shares were set to open higher on Monday after posting their longest weekly losing streak in 25 years, Reuters reported. Both the Nifty 50 and the Sensex logged their eighth straight weekly decline last week.

GIFT Nifty futures traded at 22,639 points early Monday, pointing to a positive start for the benchmark Nifty 50, which closed at 22,421.95 on Thursday. Indian markets were closed on Friday for a public holiday.

Sentiment improved after softer-than-expected US jobs data reduced expectations of a Federal Reserve rate hike later this month. Oil also helped: Brent crude slipped 0.6 percent to $101.6 a barrel on Monday as higher Middle East exports and coordinated stock releases by G7 nations eased supply fears.

Foreign investors remained net sellers for a sixth straight session on Thursday, offloading stocks worth 94.84 billion rupees, while domestic institutions bought 100.42 billion rupees. Traders say a sustained recovery needs oil to ease further and foreign outflows to slow. HDFC Bank will be in focus after naming Anup Bagchi as its next CEO.

Sources: reuters.com; thehindubusinessline.com.