Indian equity benchmarks are set to open on a flat note as indicated by the Nifty futures traded on the Singapore Exchange. The Singapore Nifty futures contract, also known as the SGX Nifty, was last seen trading 9 points higher at 11,063. Meanwhile, Asian stocks rose on Monday as hopes of more stimulus from central banks around the world, and steps being taken by major economies such as Germany and China soothed investors' fears of a sharp global economic slump.

US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week.

While all three major US stock averages ended the session higher, they still logged their third consecutive weekly losses, having been rattled since Monday by growing US-China trade animosity, simmering geopolitical tensions and signals from the bond market that sparked fears of impending recession.

Back home, Sun Pharma will be in focus today as it signed an agreement with China Medical System Holdings for generic products sale in Mainland China.

Ujjivan Financial Services will be in focus after it filed a red herring prospectus with Securities and Exchange Board of India (SEBI) for an IPO.

The S&P BSE Sensex and NSE Nifty ended Friday's volatile session on a flat note as gains in ITC, Axis Bank, Maruti Suzuki, IndusInd Bank and Power Grid were countered by losses in Tata Consultancy Services, HDFC, Reliance Industries, HDFC Bank and Hindustan Unilever.