Markets are set for a volatile session today with investors eyeing Fed Chair Jerome Powell's speech as well as the monthly derivative contracts expiry. The SGX Nifty is indicating a cautious open at around 11,550 levels for the Indian markets today. A key trigger would be Powell's speech in which investors will look for hints that the US central bank might tweak its policy framework to help push up inflation.

In the US, the Dow Jones rose 0.3 per cent, the S&P 500 gained 1 per cent, and the Nasdaq added 1.7 per cent overnight on upbeat corporate results. Asian stocks, however, made a cautious start, with Japan's Nikkei and Korea's Kospi both trading half a per cent lower. Meanwhile, Hang Seng dipped over 1 per cent.

Apart from this, corporate results will trigger stock-specific moves. A total of 51 companies including NMDC, and Avanti Feeds are scheduled to announce their June quarter results today.

On the Covid-19 front, India recorded 66,873 new cases in the past 24 hours, taking its total way past the 33-lakh mark. The country's death toll stood at 60,629.

Telecom stocks will be in focus today after Trai said the industry lost over 56 lakh wireless subscribers in May amid the nationwide lockdown. Meanwhile, Reliance Jio continued added over 36.5 lakh user additions during the month. On the other hand, Bharti Airtel lost over 47.4 lakh subscribers and Vodafone Idea lost 47.2 lakh mobile customers.

Hindustan Aeronautics is also set to trade actively at the bourses today after the company said that the government plans to sell as much as 15 per cent stake in the company through a public offering of shares.

Investors will today also track the annual general meeting of Tata Sons in which the group is expected to discuss its digital strategy as well as additional funding requirement of Tata Capital and Tata Motors.

Another key event today would be the GST council meeting that has just a single agenda, that of making up for shortfall in states' revenues.

And, now, a quick look at other top news.

The board of Future Enterprises will meet on Saturday to take a call on raising of funds by way of issuance of bonds. According to sources, the board would also look at the proposal to merge three other listed entities of the Future group with FEL.

Bank of India on Wednesday said it plans to raise up to Rs 16,000 crore through issuance of shares and bonds. It will seek shareholders' approval at its EGM on September 19.

ICICI Bank has said it plans to offload two per cent in broking and investment banking arm ICICI Securities. The move is towards meeting the 25 per cent minimum public shareholding requirement.