India's GIFT Nifty on the NSE International Exchange was up 0.09% at 19,636.5 as of 8:11 a.m. IST.
The Nifty 50 rose 1.20% last week, led by a 4.69% rise in information technology (IT) index, despite cautious commentary from Tata Consultancy Services, Wipro and HCLTech after reporting their June quarter results.
The rise in IT firms, which earn a significant share of their revenue from the United States and Europe, came after the U.S. inflation data spurred optimism that the Fed was nearing the end of the monetary policy tightening.
"The market seems to be flooded with strong foreign institutional inflows, and with the U.S. inflation moderating, investors are hoping for a rate hike pause by the Federal Reserve," said Amol Athawale, vice president for technical research at Kotak Securities.
Asian markets were subdued on Monday after data showed that China's GDP growth in June quarter grew at a lower-than-expected rate. [MKTS/GLOB]
Investors also await the June quarter earnings of HDFC Bank, LTIMindtree, Tata Elxsi among others on Monday.
Foreign institutional Investors bought 26.36 billion rupees ($321.3 million) worth of Indian equities on a net basis on Friday, while domestic investors sold 7.72 billion rupees of shares, as per provisional NSE data.
STOCKS TO WATCH:
** JSW Energy: Co reports fall in consolidated net profit in June quarter.
** Avenue Supermarkts: Co posts rise in consolidated net profit in first quarter.
** Bandhan Bank: Lender reports slide in net profit in June quarter; asset quality worsens sequentially.
** Lupin: Co receives approval from U.S. FDA for Chlorpromazine Hydrochloride tablets.
($1 = 82.0490 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil)
