Here is a 10-point cheat-sheet
1) China shares fell nearly 2.5 per cent, sparking a selloff in other Asian markets. On Saturday official figures showed Chinese consumer prices picked up slightly in December but inflation remained about half the government's target. Prices paid at the factory gate, a guide to future inflation, also sank for a 46th consecutive month.
2) The rupee would be closely watched today. The Indian currency fell to 66.92/dollar against Friday's close of 66.63. The US reported strong job numbers for December, a development that could led to a broad rise in dollar amid expectations of a Fed rate hike in March.
3) A tumble in Chinese markets had led to a global selloff last week with Nifty slumping 4.5 per cent during the week.
4) Foreign investors sold Indian stocks worth nearly Rs 3,000 crore last week on a net basis, weighing on Indian markets.
5) Domestic institutional investors bought Indian equities worth nearly Rs 1,350 crore providing some support.
6) Market analysts don't rule out the possibility of Nifty slumping to 7,300 levels, driven primarily by global concerns, particularly depreciation of Chinese currency yuan and worries about China's economy.
7) However, Indian markets could rebound sharply, they say, if third-quarter earnings of Indian corporates surprise on the upside and there are positive developments on the GST front.
8) TCS reports its Q3 earnings tomorrow, kicking off the results season.
10) "It is the perfect time for buying India (Indian equities). Because if ever there has been a case for India outperforming China, it is now," said Sanjiv Bhasin, executive vice president for markets & corporate affairs at India Infoline.