Indian shares are set to open flat on Monday, after logging their best week since June on Friday, with traders expecting marginal moves ahead of US and domestic inflation data this week.

The Gift Nifty futures were trading at 24,731.5 as of 8:12 a.m. IST, indicating that the benchmark Nifty 50 will open near Friday’s close of 24,677.8.

Both indexes gained about 2.3% each last week, their best since early June, as the Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions.

While the outlook for domestic equities remains positive, markets may only see incremental moves in the next few sessions ahead of the US and domestic inflation readings this week, two traders said.

US jobs data on Friday was largely along expected lines, prompting investors to ramp up bets of a December rate cut by the Federal Reserve.

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Focus is now on US consumer price inflation (CPI) data, which is due on Wednesday and will influence the future rate trajectory and foreign inflows into emerging markets such as India.

India’s CPI data, due on Thursday, will be a crucial factor influencing RBI’s rate cut timing, analysts said. Other Asian markets opened lower on the day, dragged down by South Korean shares amid political turmoil.