Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to begin the week in the green, rising further from three-week closing highs, amid gains in global markets as investors wagered on an eventual slowdown in US monetary tightening albeit after sharp hikes in June and July. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — rose as much as 143 points or 0.9 percent to 16,480 early on Monday, suggesting a higher opening ahead on Dalal Street.

Trade setup for Monday, May 30: The Nifty50 may climb to higher levels if it takes out 16,400 following the recent pullback, say experts. Here's what the technical charts suggest.

The dollar index, which hit a two-decade high of 105.01 earlier in May was steady at 101.66 on Monday. Sterling held last week's gains at $1.26.

Stocks in news: US stocks opened on a positive note on Monday, and Asian stocks followed suit. SGX Nifty futures were up by 0.76 percent to 16,461 indicating a positive start for the Indian market. Stocks such as Mahindra & Mahindra, ONGC, Tata Motors, Nykaa among others will be in focus today. Here are top stocks to watch out for today-