The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a positive note Tuesday tracking gains in global peers.The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the red. Nifty 50 closed at 23,453.80, while Sensex ended at 77,339.01. Overnight, Wall Street indices ended paused their losing streak.

Indian markets were likely to be driven by mixed global cues like a slower rate cut cycle by the US Federal Reserve and Donald Trump's plans to cut corporate tax rates there

The Nifty Bank index closed on a note on Monday. Shares of IDFC First Bank Ltd.(up 3.35 per cent), Federal Bank Ltd.(up 1.67 per cent), State Bank of India(up 1.25 per cent), Punjab National Bank(up 1.

The stock markets have been facing pressure recently, with foreign investors pulling out significant funds. Last week marked the second consecutive week of losses, as both the Sensex and Nifty declined by nearly 2%.