New Delhi, Aug. 25 -- The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking strong global market cues, after US Federal Reserve Chair Jerome Powell's Jackson Hole speech hinted at interest rate cut at the Fed's September meeting.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,953 level, a premium of nearly 55 points from the Nifty futures' previous close.

On Friday, the equity market ended lower, with the benchmark indices snapping their six-day winning streak.

The Sensex dropped 693.86 points, or 0.85%, to close at 81,306.85, while the Nifty 50 settled 213.65 points, or 0.85%, lower at 24,870.10.

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