The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 22,370 level, a premium of nearly 90 points from the Nifty futures’ previous close.

Currently, Nifty 50's price-to-earnings ratio on a trailing 12-month basis is at 19.7 times, down from the 40.3 times seen in March 2021, according to NSE data.

India's benchmark indexes logged their worst day in around five months on Friday, with Nifty 50 posting its longest monthly losing streak since 1996 on pessimism over domestic market conditions.