India's GIFT Nifty was trading down 0.62% at 19,647.50 as of 8:03 a.m. IST, indicating that the Nifty 50 will open lower from Friday's close of 19,653.50.

Wall Street equities closed lower on Friday after a strong U.S. jobs report spurred concerns of a prolonged high interest rate regime. Asian markets opened flat. [MKTS/GLOB]

Oil prices rose after a military conflict in the Middle East where Israel attacked the Palestinian enclave of Gaza. Rise in oil prices is a negative for importers of the commodity, like India.

Weak global factors and foreign fund outflows are likely to lead to sharp intra-day gyration in Indian equities, said Shrikant Chouhan, head of research for retail at Kotak Securities.

Foreign institutional investors (FIIs) extended their selling streak for the 13th consecutive session on Friday, offloading shares worth 902.9 million rupees ($11 million) on a net basis. Domestic institutional investors (DIIs) bought 7.83 billion rupees in shares.

STOCKS TO WATCH:

** Tata Consultancy Services: Co to consider share buyback in its board meeting on Wednesday.

** Titan Co: Co says it posted revenue growth of 20% year-on-year in September quarter.

** Reliance Industries: Co to raise 49.57 billion rupees from the Abu Dhabi Investment Authority.

** Prestige Estate Projects: Co registers quarterly sales of 70.93 billion rupees, up 102% year-on-year.

($1 = 83.1770 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)