The Indian benchmark indices, BSE Sensex and NSE Nifty50, opened higher on Monday, buoyed by expectations of a significant interest rate cut from the U.S. Federal Reserve's upcoming policy meeting on September 18.

At 9:44 a.m., Sensex was up 258 points or 0.31 per cent at 83,149 and Nifty was up 81 points or 0.32 per cent at 25,437. In an early trading session, Sensex and Nifty both made a new all-time high of 83,184 and 24,445. 

By 10:30 AM, the Nifty had inched down slightly to 25,409.80, registering a 0.21% gain or 53.30 points, and the Sensex was down to 137.16 points, or 0.17%, at 83,028.10 points.

Sectoral performance was largely positive, with 12 out of 13 Nifty indices posting gains. The only exception was the Nifty FMCG index, which dipped by 0.8% as heavyweights like Hindustan Unilever, Varun Beverages, and Britannia came under pressure.

IPOs This week
As markets opened, Bajaj Housing Finance listed at a premium of 115%, at Rs 150, from the issue price of Rs 70. The stock also hit a high of Rs 160, after listing on the BSE. 

Investors in the Indian stock market are also closely eyeing a slew of Initial Public Offerings (IPOs) this week. A total of seven companies are set to go public, with two IPOs debuting on the main board and five coming from the SME (Small and Medium Enterprises) segment.

These IPOs have spurred heightened investor interest. Additionally, 13 companies are scheduled to be listed on the stock exchange this week, which is expected to further stir market activity and add to the volatility.

Meanwhile, Asian markets started the week on a flat note. Taiwan's market so early volatility but recovered and inched up by 0.26%, and Hong Kong's Hang Seng index fell by 0.29% to 17,328.16 points. Japan and South Korea's markets remained closed for a public holiday.

Global markets, including India's, are anticipating the outcome of the U.S. Federal Open Market Committee (FOMC) meeting on September 18, which is expected to significantly influence the direction of the stock markets.

Investors are betting on a heavy interest rate cut from the U.S. Federal Reserve, with expectations of a 50-basis-point cut up from earlier predictions of a more moderate 25-basis-point reduction. According to CME's FedWatch Tool, the probability of a 50-basis-point cut has risen to 59%, while the likelihood of a 25-basis-point cut stands at 41%.

Additionally, investors are awaiting Tuesday's U.S. retail sales and industrial production data, which could provide further insights into the economic outlook and influence market trends.