The Indian equity benchmark indices opened higher on Tuesday tracking gains in Asian peers amid signs of progress in US-China trade negotiations and following a fresh rally on Wall Street.

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At 9:15 am, the Sensex opened 0.38 percent, or 149.38 points, higher at 38,948.46, while the Nifty50 index opened at 11,513.10, up 46.65 points, or 0.41 percent.

Broader markets supported gains with Nifty Smallcap100 and Nifty Midcap100 indices up 0.92 percent and 0.84 percent, respectively.

Globally, investor sentiment was boosted as top US and Chinese officials, who spoke by phone on Monday, see progress on resolving issues over the Phase 1 trade deal reached in January. Both sides are committed to the success of the agreement, the US Trade Representative's Office said.

Among sectoral indices, the Nifty PSU Bank, Nifty Auto, Nifty Pharma and Nifty Metals gained the most while Nifty IT was under pressure.

Eicher Motors, IndusInd Bank, SBI, Tata Motors and Axis Bank led gains among Nifty50 constituents while ONGC, HCL Technologies, UltraTech Cement, Nestle India and Bharti Infratel were the top index losers.

The share price of Future Retail surged over 6 percent after the company averted a default by paying $14 million or about Rs 105 crore in interest dues to its coupon holders on Monday for $500 million senior secured notes.

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