Sensex, Nifty Seen Flat To Higher At Open

Indian shares look set to open on a positive note Monday as an uptick in the U.S. unemployment rate and moderation of payroll and wage growth meant that the Fed is very likely to hold their policy rate steady at the decision later this month.

In the absence of any major event, market direction this week may be influenced by oil price movements, foreign fund inflows and the release of S&P global services purchasing manager's index figures.

Asian markets were mostly higher this morning, gold firmed up and the dollar held steady while oil extended last week's rally on expectations of ongoing crude supply cuts from major producers.