1128: Marketbuzz Podcast with Reema Tendulkar: Sensex, Nifty 50 top open higher, all eyes on earnings, Fed decision

Indian benchmark indices — Sensex and Nifty 50 — are set to open marginally higher in the trading session of November 1, tracking a rise in global stocks ahead of the US Federal Reserve's policy decision.

India's GIFT Nifty was down 0.15% at 19,133.50 as of 8:16 am IST, but still above the previous close of 19,079.60.

In the overnight session on Wall Street, Dow Jones, the S&P 500 and NASDAQ ended in green. This was ahead of the Fed's policy decision due later on November 1 and US monthly jobs data due on November 3. The FOC decision will be out at around 11:30 pm (India time) is largely expected to be a no rate change policy.

Asian markets also rose in morning trade.

Brent crude prices further eased down to levels of about $85.5 per barrel. A decline in crude prices is positive for India's economy.

In the domestic market, it is a big day for earnings. Larsen & Toubro and Tata Consumer have reported good growth and the stocks are expected to react. Ambuja Cement, Britannia Industries, Godrej Consumer Products, Hero Motocorp, Indraprastha Gas, India Cements, LIC Housing Finance, and Tata Steel are among those that are due to report their earnings later in the day.

Tune in to Marketbuzz Podcast for more cues