Jan 28 (Reuters) - India's benchmark indexes are set to open marginally higher on Tuesday, with futures indicating a slight pullback after stocks slipped to seven month-lows in the previous session.

Analysts expect corporate earnings, among other factors, to keep local equities under pressure. Globally, markets fell overnight as China's release of its DeepSeek AI model hit technology stocks.

The GIFT Nifty futures GIFc1 were trading at 22,933, as of 8:10 a.m. IST, indicating that the blue-chip NSE Nifty 50 .NSEI will open slightly above Monday's close of 22,829.15.

Both Nifty and BSE Sensex .BSESN closed at their lowest levels since early June 2024, giving away all the gains notched since the national election results.

The benchmarks have lost about 3.5% in January and are on course for a fourth straight monthly loss - the longest such streak in over 23 years.

Analysts cited moderation in corporate earnings, anxiousness over U.S. President Donald Trump's trade policy and sustained foreign outflows from Indian stocks worth $7.75 billion as reasons for the monthly drop.

"Indian equities are expected to remain under pressure, ahead of Federal Reserve's rate decision and commentary on Wednesday and the union budget announcements on Saturday," said Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services.

Overnight, U.S.' tech-heavy Nasdaq Composite IXIC dropped 3%, with AI leader Nvidia NVDA.O sinking 17%. Chinese startup DeepSeek rolled out a free assistant it says uses cheaper chips and less data, raising concerns on U.S.' dominance and spending in one of the markets' hottest sectors. Asian markets opened lower. MKTS/GLOB

The AI model has posed threats to the business models of Nvidia, OpenAI and Google, which also has had a rub-off effect on Indian IT stocks, though there is no direct impact on Indian companies, said Khemka.

The Nifty IT index .NIFTYIT fell 3.36% on Monday, almost giving away all the gains of the previous week in one session.

STOCKS TO WATCH

** Tata Steel TISC.NS reported surprise profit on buoyant India sales volume

** Coal India COAL.NS posted lower third-quarter profit hurt by a fall in sales volumes due to weak power demand

** Bajaj Housing Finance BAJO.NS posted 25% jump in December quarter profit on strong credit growth

** Key earnings on the day: Bajaj Auto BAJA.NS, TVSMotor TVSM.NS, Cipla CIPLNS>, Colgate-Palmolive India

($1 = 86.4580 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))