Indian benchmark indices — Sensex and Nifty 50 — are set to open little changed on July 21, on caution after data from the US reignited concerns of a prolonged high-interest regime, while investors awaited key domestic earnings.

India's GIFT Nifty on the NSE International Exchange was up 0.09 percent at 19,876.5, as of 8:12 a.m. IST.

Both the Nifty 50 and Sensex hit fresh highs for the fifth straight session on July 20, with the Nifty 50 closing just shy of the 20,000 mark. The benchmarks are on course to extend gains for the fourth week in a row, adding over 2 percent each so far. The Senex also broke about 67,500.

It seems that the 20,000 mark might be a little more elusive because of cues such as the Infosys numbers, and the tech giant cut its, which will probably deter investors.

The global setup is also a bit mixed. The US markets ended a mixed session. Earnings continued to be in focus such as Netflix as well as Tesla. Asia is largely in the red.

Meanwhile, Nifty Bank gained over 500 points in yesterday's trading session.

The markets could probably hold on to optimism because of cues coming out regarding quarterly results.

While Reliance Industries earnings will be out with numbers, post markets today. Separately, RBL Bank and AU Small Finance Bank will report their numbers on Saturday, which will really set the tone for Monday.

The market will also watch out for Ultratech Cement, HDFC Life Insurance with all of these numbers due for earnings in today's trading session.

Tune in to Marketbuzz Podcast for more cues