Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to make a gap-down opening on Monday tracking weakness across global markets, as concerns persisted about the impact of steep rate hikes in economic growth. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — fell as much as 299.5 points or 1.7 percent to 17,014.5 ahead of the opening bell on Dalal Street.

Investors await Tata Consultancy Services (TCS) to report its financial results and kick off the corporate earnings season later in the day.

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