Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 likely set for gap-up start

Indian benchmark indices — Sensex and Nifty 50 — are likely to start August 24 trading session marginally higher, on caution ahead of the release of the Reserve Bank of India's policy meeting minutes.

India's GIFT Nifty on the NSE International Exchange was up 0.07% at 19,517.50 at 8:08 am.

As the Jackson Hole Symposium begins today in the US, all eyes will be on Fed Chairman Powell's remarks on inflation and rate hike trajectory projection.

In the overnight session on Wall Street, the tech-heavy NASDAQ index continued its upmove for the third trade session. Dow and Jones and S&P 500 also ended in the green.

Crude oil prices continued to witness selling pressure. Brent futures fell lower by almost one percent to the $83.2 a barrel mark.

In the domestic session yesterday, the Nifty 50 as well as the Sensex ended with a positive bias with the Nifty defending the crucial 19,400 level. Financial stocks outperformed. The midcap index yesterday too hit a fresh lifetime high.

The other important set of stocks that rallied yesterday were names that were linked to the Chandrayaan-3 mission after the successful landing of the Vikram Lander. These stocks will be in focus today as well.