SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 29 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Monday as investors in the region reacted to Chinese economic data releases, including the country's GDP print for the fourth quarter.

China reported GDP rose 2.3% last year as the world struggled to contain the coronavirus pandemic. Gross domestic product grew by 6.5% in the fourth quarter from a year ago, official data from National Bureau of Statistics showed. However, Chinese consumers remained reluctant to spend, as retail sales contracted 3.9% for the year. Retail sales for the fourth quarter rose 4.6% from a year ago.

Markets in the U.S. are closed on Monday for a holiday. US stocks fell on Friday as traders weighed President-elect Joe Biden's $1.9 trillion stimulus plan along with the latest earnings from some of the biggest U.S. banks.

The Dow Jones Industrial Average closed 177.26 points lower, or 0.6%, at 30,814.26. The S&P 500 dipped 0.7% to 3,768.25, and the Nasdaq Composite slid 0.9% to end the day at 12,998.50.

Among major banks, JPMorgan reported better-than-expected earnings. Wells Fargo and Citigroup posted earnings that beat analyst expectations.

Domestic markets:

Back home, domestic equity benchmarks declined sharply on Friday, led by broader selling pressure. The barometer index, the S&P BSE Sensex, dropped 549.49 points or 1.11% to 49,034.67. The Nifty 50 index lost 161.90 points or 1.11% at 14,433.70.

Foreign portfolio investors (FPIs) bought shares worth Rs 971.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 942.07 crore in the Indian equity market on 15 January, provisional data showed.

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