Indian shares are likely to open higher on Monday, tracking gains in Asian equities following favorable US jobs data.

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The SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, was up 0.48 percent at 10,818 as of 0718 IST. On Friday, the 50-share Nifty advanced 23 points to close at 10,773, while the Sensex rose 83 points to end at 35,658.

Stocks are likely to take cues from the upcoming quarterly results season, along with macro-economic data points on industrial output and inflation.

However, continued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, news wire PTI reported.

A level of 69.30 remains crucial for the domestic currency, which if breached, could further plumb down to the 70 mark against the dollar, the report said.

In Asia, stocks gained in early trade today, extending Friday’s gains. Shares in Japan nudged higher, while Hong Kong futures pointed to gains. Nikkei was trading higher by over 200 points or nearly 1 percent.

Sentiment in other markets was mostly positive after Friday’s US payrolls report showed tame wages and more people looking for work.

The balanced report helped Wall Street end last week in the black.

(With inputs from Reuters)