India, Oct. 20 -- India's stock market is set to open higher today on bank earnings and positive global cues on easing US-China trade tensions.

Gift Nifty futures were trading at 25,979.00 points as of 8:49 am, 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 Ltd. and ICICI Bank Ltd.-reported higher-than-expected profits for the September quarter, along with an improvement in their asset quality on Saturday. Reliance Industries Ltd. 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...