Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.

Overseas, Asian shares were trading lower ahead of a closely watched meeting by the US Federal Reserve set to kick off later in the day.

US stocks closed modestly higher Monday, as investors prepared for a meeting of Federal Reserve policy makers to begin Tuesday. The Fed is expected to leave rates unchanged when it concludes a two-day meeting on Wednesday. Investors will focus on the statement issued by policy makers.

On the US data front, the National Association of Home Builders' monthly confidence index was unchanged at a seasonally-adjusted reading of 62.

In Europe, Britain's parliament banned another vote on same Brexit deal. Prime Minister Theresa May's third attempt to get parliament to back her Brexit deal were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in fundamentally different form. May has only two days to win approval for her deal to leave the European Union if she wants to go to a summit with the bloc's leaders on Thursday with something to offer them in return for more time.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,822.99 crore on 18 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 1,268.91 crore on 18 March 2019, as per provisional data.

Domestic stocks logged gains for sixth straight session on Monday, 18 March 2019, amid positive global cues. Strong foreign portfolio inflows in the domestic market and firmness in the rupee against the dollar also boosted sentiment. The barometer index, the S&P BSE Sensex, rose 70.75 points or 0.19% to 38,095.07. The Nifty 50 index rose 35.35 points or 0.31% to 11,462.20.