Today, what we are looking at is a very volatile and frankly, quite a muted set of queues as far as our own markets are concerned. There continues to be significant amount of uncertainty regarding reaching the settlement of the US debt ceiling limit.

Also, Fitch rating has now placed the US ‘AAA’ rating on a negative watch. US markets ended lower and Dow Jones, which ended almost 0.8 percent lower, was down for the fourth trade session when you're talking about European markets. Australia's trading session was on the back of significant uncertainty.

On the other hand, Brent futures as well as WTI futures gained over 1.7 percent, each, indicating higher crude oil prices as there are continued to be commentary from Saudi regarding further production cuts coming to our own markets in yesterday's trading session, what we actually saw was significant sell off pressure towards the end of the trading session.

In fact, the last selling intensified markets ended near the day's lowest point. The Nifty bank was a significant underperformer.

Meanwhile, Asian markets are indicating a muted start.

Tune in to Marketbuzz Podcast for more news and cues to track in today’s session

Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!