India stock benchmarks to open higher on strong earnings from lenders, global cues

India’s equity benchmarks are set to open higher on Monday as better-than-expected earnings from top lenders and positive global cues on easing China-U.S. trade tensions boost investor sentiment.

Gift Nifty futures were trading at 25,980.5 points as of 7:56 a.m. IST, indicating that the benchmark Nifty 50 will open above Friday’s one-year high close of 25,709.85.

India’s top two private sector lenders HDFC Bank and ICICI Bank reported higher-than-expected profits for the September quarter, along with an improvement in their asset quality on Saturday.

Meanwhile, Reliance Industries missed quarterly profit estimates due to weakness in the legacy oil-to-chemicals segment, but its revenue came in above forecast.

“Revival in retail growth and rising visibility on low-teens consolidated EBITDA growth in FY26 should help (Reliance Industries) stock re-rate,” brokerage firm Jefferies said in a report.

Benchmark Nifty 50 closed at a one-year high last week as optimism over an earnings rebound and growing expectations of a December rate cut buoyed sentiment.

Foreign investors bought Indian shares worth 3.09 billion Indian rupees ($35.14 million) on Friday, as per provisional data.

This was their sixth session of buying in nine trading days.

Elsewhere in Asia, China and Hong Kong stocks led the markets higher after a heavy selloff last week, buoyed by signs of easing Sino-U.S. trade tensions.

U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet this week with Chinese Vice Premier He Lifeng in Malaysia to try to forestall an escalation of U.S. tariffs on Chinese goods that President Donald Trump said was unsustainable.