Indian benchmark indices — Sensex and Nifty 50 — are set for a muted open on August 22, on risk aversion due to persistent concerns over the health of China's economy and US interest rates.

India's GIFT Nifty on the NSE International Exchange was up 0.03 percent at 19,395 at 8:05 am.

In the previous session, Nifty 50 and Sensex rose as a rebound in information technology (IT) and financial stocks outweighed a slide in Reliance Industries following spin-off Jio Financial's lukewarm market debut.

In the overnight session in the US market, NASDAQ rallied close to about a percent and a half. This is despite an absolutely flat closing. The Dow and Jones closed in red. Meanwhile, pessimism about the Chinese economic outlook continues to weigh on the market.

The focus is now on the Jackson Hole symposium as Fed Chair Jerome Powell is going to deliver a speech on August 25. The Indian markets will only react to this over the weekend and in the week that follows.

Meanwhile, domestic investors also await the minutes of the latest monetary policy meeting of the Reserve Bank of India, due on August 24.

Among the stocks to watch are Adani Enterprises, Welspun Enterprises, Tata Power and Brigade Enterprises.

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