1149: Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 set to open at record highs

Indian benchmark indices, Sensex and Nifty 50, are set to scale record highs at open in the trading session of December 6, continuing the stellar rally this week post the election results. 

India's GIFT Nifty was up 0.15% from its overnight close at 21,036.50 as of 8:20 am, above the Nifty 50's December 5 record close of 20,855.10, indicating a positive open.

The market is eyeing a very strong domestic setup after the Nifty, Nifty Bank, midcap and small cap indices —  all closing at fresh record highs in the previous session. In fact, the midcap and smallcap indices have continued their stellar rally without a negative close for over 15 sessions.

In terms of overnight cues, the US markets saw mixed closes with softness continuing for the second straight session. The NASDAQ was the only index that closed above the flat line.

Crude oil prices continued to give good news. The oil price has now slipped to a five-month low. Brent futures were near the $77 a barrel mark. A fall in crude prices is positive for importers of the commodity like India and its oil marketing companies

Meanwhile, in the domestic market, the Nifty Bank saw a bit of underperformance the entire year but that ended in the last two trading sessions.

Stocks to watch: State Bank of India, Power Grid Corporation of India, Sun Pharmaceutical Industries, Adani Group companies

Tune in to the Marketbuzz Podcast for more cues