Indian benchmark indices — Sensex and Nifty 50 — are likely to make a positive start on August 28, ahead of the Reliance Industries annual general meeting due later in the day.

The GIFT Nifty suggests a start with a gain of about 60 odd points for the Nifty 50 index on the back of positive global cues.

US markets ended with gains on Friday with frontline indices climbed up to 0.9 percent. Nasdaq and S&P snapped their losing streak while the Dow and Jones.

Asian shares rallied on Monday as China announced new measures to support its ailing markets, though the mood was cautious ahead of readings on U.S. jobs and inflation that could decide whether interest rates have to rise again.

Oil prices drew some support from a sharp rise in US diesel prices, though concerns about Chinese demand remains a drag. Brent edged up 22 cents to $84.70 a barrel, while US crude rose 21 cents to $80.04 per barrel.

Meanwhile, last week, Federal Reserve Chair Jerome Powell said the US economy could require further interest rate increases.

The big thing to track today is Reliance Industries’ AGM, which begins at 2pm today.

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