India's GIFT Nifty was trading at 22,656.5 as of 8:38 a.m. IST, indicating that the NSE Nifty 50 will open higher than its close of 22,513.70 on Friday.

The benchmark Nifty and S&P BSE Sensex logged a third straight week of gains last week. The Sensex notched a record closing high on Friday, while the Nifty fell one point short of its record close.

Financials led the charge last week, boosted by HDFC Bank's 7% surge, mostly after it posted sequential growth in deposits for the March quarter.

Consumer companies however gave a mixed set of sales updates, although easing inflation is expected to lead to healthier results.

The Reserve Bank of India said on Friday it expects the economy to expand by 7% this fiscal year, aided by strengthening rural demand, improving employment conditions and moderating inflation pressures.

"The earnings season, beginning this week, is expected to register steady growth," said Joseph Thomas, head of research at Emkay Wealth Management.

However, Asian markets were subdued after another blowout U.S. jobs report dampened expectations of a Federal Reserve rate cut in June. [MKTS/GLOB]

The odds of a pause in June have risen to 52% from roughly 40% a week ago, according to the CMEGroup's FedWatch tool.

Wipro will be in focus after Thierry Delaporte resigned as CEO of the country's No.4 information technology (IT) company over the weekend.

STOCKS TO WATCH:

** Tata Steel: The company posted its highest-ever annual crude steel production in fiscal year 2024.

** Adani Wilmar: The company registered double-digit percentage growth in edible oil sales in the March quarter.

** Titan: The company logged 17% revenue growth in the March quarter, on robust jewellery demand. ($1 = 83.2860 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)