But England were left with cause to rue both Joe Root’s decision to bowl first and their returns from a day of toil as the hosts closed the day just four wickets down on 209.
Having won the toss and opted to put Smith’s men in – the first time in seven day-night Tests that a captain has chosen to field – England needed to have made further inroads than this by the end of day one.
And while they were delighted to finally bag the prized wicket of Aussie skipper Smith in front of a record 55,317 crowd at the Oval, they are in a difficult position already.
For Overton, who was selected here in place of Jake Ball as England searched for a bit more aggression, this was a day he will never forget.
The Somerset fast bowler, 23, was a surprise pick in the Ashes squad and would have almost certainly been on Lions duty had it not been for an injury to Toby Roland-Jones at the end of the English summer.
But given his chance yesterday he grabbed it, dismissing Smith for 40 with a ball that beat the Australian captain for pace outside off stump, found the inside edge and cannoned into middle stump.
Overton’s highlight was one peak in an ultimately disappointing day for England who will hope that a second new ball, just one over old, will yield quick wickets early on day two.
Root had thrown something of a curve ball at the toss.
And the first hour must have given him palpitations after England’s senior pairing of Broad and Anderson failed to make any early inroads with the new ball before rain brought a temporary halt after 11.2 overs with Australia 33-0.
Both of them were guilty of bowling too short – 37 per cent of the opening spell were left by the Australia openers – and while the runs hardly flowed off the bat it was a poor start.
A short delay for rain, then a longer one of an hour and a half did nothing to groove a rhythm either.
Chris Woakes provided the opening breakthrough running out Cameron Bancroft at the start of the 34th over, the all-rounder seizing on a mis-field from Moeen Ali which ricocheted from short cover to mid off and indecision from David Warner and Bancroft, to strike.
It was Warner’s call and a poor one but doubly so because it got England into the contest, Broad giving vent to a full week of frustration about the opener’s part in the sledging in Brisbane at the end of the over.
It was a fiery contest elsewhere as well Anderson clashing with Smith repeatedly when the England player was fielding at short-mid on – Aleem Dar having to intervene to calm the pair down.
Usman Khawaja completed a classy half century after being dropped off Woakes at deep backward square by Mark Stoneman when he was on 44.
But he lasted just four balls of the evening session, eventually out wafting a ball angled across by Anderson.
Overton, the older twin brother by three minutes of Somerset all-rounder Jamie, bowled with real aggression, hitting the pitch hard and causing uncertainty for the Aussie batters.
And he got due reward with the prized scalp to leave Smith’s side 161-4
But England could make no further breakthroughs in a session as Shaun Marsh (20no) and Peter Handscomb (36no) consolidated.