Nifty Seen Opening Higher; State Bank of India In Focus

New Delhi: The Indian equity benchmarks are set to open higher as indicated by the Nifty Futures on the Singapore Exchange. Nifty Futures on Singapore Exchange also known as SGX Nifty Futures rose 24 points to 17,948 amid mixed cues from Asian markets.

Japan's Nikkei fell 0.43 per cent, Hong Kong's Hang Seng declined 1 per cent, Taiwan Weighted advanced 0.2 per cent and Shanghai Composite rose 0.05 per cent.

Overnight, world shares reached new records on Tuesday, lifted by rising U.S. and European stocks, while the latest batch of earnings reports bolstered the dollar as investors await the Federal Reserve's plans to taper its massive stimulus.

All three major U.S. stock indexes hit intraday record highs during the session.

The STOXX 600 in Europe also posted a record close on strong corporate results as France's CAC 40 index hit its highest level since 2000.

Back home, foreign institutional investors turned net buyers of Indian equities on Tuesday as FIIs bought shares worth Rs 245 crore in Tuesday while domestic institutional investors bought shares worth Rs 6 crore.

State Bank of India will be in focus as the country's largest lender will report its September quarter earnings later in the day.