Sensex, Nifty likely to open higher; DHFL, Jet Airways, JSW Steel in focus

Indian benchmark indices are likely to edge higher on Monday following gains in global markets after positive development in US-China trade negotiations. Investors, however, will remain cautious ahead of the Union Budget on July 5. 

Stocks also rallied and bonds retreated in Asia on Monday as a thaw in the Sino-US trade dispute tempered risks to the global economy, leading investors to pare wagers on aggressive policy easing by the major central banks.

Oil prices rose over $1 a barrel after Russia agreed with Saudi Arabia to extend supply cuts for another six to nine months ahead of an OPEC meeting this week.

Indian benchmark indices closed lower on Friday with the Sensex ending the session 192 points lower at 39,395, while the broader Nifty50 index losing 53 points to end at 11,789. 

At 7.27 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 11.50 points, or 0.10 percent, higher at 11,849.50, pointing to a positive start for the Sensex and the Nifty 50.

Stocks to watch: DHFL, Jet Airways, JSW Steel in focus.