India's benchmark share indexes were set to open at new all-time highs on Tuesday, helped by sustained inflows from domestic investors and financial updates from companies ahead of the earnings season.

GIFT Nifty was trading at 22,839 as of 8:06 a.m., indicating that the NSE Nifty 50 will open above its Monday close of 22,666.30.

Both the Nifty 50 and S&P BSE Sensex hit all-time highs on Monday, led by a rebound in heavyweight Reliance Industries and auto stocks.

The market capitalisation of all stocks listed on BSE rose above ₹400-lakh crore ($4.80 trillion) on Monday, while the total market cap of NSE-listed companies was just shy of ₹400-lakh crore.

"Encouraging" updates are attracting stock-specific buying and aiding sentiment ahead of quarterly results, said Dhiraj Reli, managing director and chief executive at HDFC Securities.

"Hopes of favourable outcome from the general elections starting from April 19 and anticipation of subsequent policy continuity are keeping the momentum intact," added Reli.

Domestic institutional investors (DII) have been net buyers of Indian shares in 21 of the 25 sessions since the beginning of March, adding stocks worth ₹59,783 crore in the period.

On Monday, DIIs bought net bought shares worth ₹3,471 crore while foreign institutional investors net sold equities worth ₹685 crore.

Asian markets crept up cautiously ahead of this week's US inflation data and a crucial European Central Bank meeting. The US stocks were essentially unchanged at the close of a choppy session overnight.