Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 196 points at the opening bell.

Overseas, most Asian markets were trading sharply lower on Monday on weak risk appetite as the death toll from coronavirus pandemic surged, threatening the global economy as roughly one-third of the planet is on lockdown.

In US, stock indexes ended sharply lower on Friday, failing to get a lasting lift from approval by Congress of a $2 trillion economic stimulus package to counter the effects of the coronavirus pandemic, but equities booked double-digit weekly gains to take back a chunk of losses seen this month.

Back home, the Sensex corrected on Friday, breaking its three-day rising streak. The Nifty, however, managed to close with minor gains above 8660 level. The Reserve Bank of India (RBI) on Friday joined the global central banks in slashing interest rates to minimize the damage from Covid-19 crisis. Despite RBI's monetary bazooka, the sentiment was clouded by worries of evolving situation on COVID-19 crisis and its implications on the economy and corporate profitability. The barometer index, the S&P BSE Sensex fell 131.18 points or 0.44% at 29,815.59. The Nifty 50 index added 18.80 points or 0.22% at 8,660.25.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 355.78 crore on Friday, 27 March 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1703.72 crore, on Friday, 27 March 2020, as per provisional data.