The BSE Sensex is expected to start lower on Monday as investors await election results from five states on Tuesday, with voter surveys indicating the Congress party lagging regional groupings.
Rahul Gandhi failed to deliver the election comeback he had promised for the Congress party in the politically crucial state of Uttar Pradesh, according to voter surveys released after the phased, month-long poll ended on Saturday.
Oil and Natural Gas Corp could see gains after the government said it raised $2.57 billion in a share auction at an average price of Rs 303.67 a share.
Asian shares were subdued as investors turned watchful of developments in the euro zone's debt crisis and the oil market.
The MSCI's measure of Asian markets other than Japan was down 0.94 per cent by 0258 GMT, while Japan's Nikkei shed 0.3 per cent.
Nifty stock futures index in Singapore was down 0.3 per cent, indicating a weak opening in the local market.
The main 30-share BSE index closed up 0.19 per cent at 17,636.99 points, in a special trading session on Saturday.
STOCKS TO WATCH
* Raymond is likely to rise after a newspaper reported that the private equity arm of luxury product group LVMH is in talks to invest about $150 million in the Indian apparel-maker's unit. Neither companies could be immediately reached for comment.
* Spicejet may rise after the budget carrier said after market-hours on Friday it would issue up to 42.9 million equity shares on preferential basis to the controlling shareholder Kalanithi Maran.
Copyright @ Thomson Reuters 2012
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