Indian shares are set to rally on Monday after finance minister Nirmala Sitharaman reduced corporate tax rates for domestic companies and new manufacturing companies.

On the global markets' front, Asian shares also advanced following progress on US-China trade negotiations after the two sides said talks were productive and constructive.

On Friday, the Sensex ended 1,921 points higher at 38,015, while the broader Nifty50 index added 569 points to end the day at 11,274.

At 8:16 AM, the SGX Nifty futures traded 151 points, or 1.33 percent, higher at 11,491, pointing to a strong opening for the Sensex and the Nifty 50.

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