Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 19 points at the opening bell. Investors are awaiting results of Lok Sabha polls scheduled to be announced today, 23 May 2019.

Most exit polls forecast a majority for the ruling BJP-led NDA in Lok Sabha polls. The 2019 polls, held from April 11 to May 19, will decide which party presides over the 17th Lok Sabha. Elections were held for 542 seats. A party or coalition needs 272 seats in parliament to form a government.

Overseas, Asian stocks fell on Thursday with the unfolding deterioration in Sino-US relations again giving investors little reason for cheer.

US stocks fell on Wednesday with the release of the minutes from the Federal Reserve's most recent policy meeting doing little to perk up equities.

Back home, key indices settled with modest gains yesterday, 22 May 2019 after a volatile session of trade. The Sensex settled above the psychological 39,000 mark after falling below that level in intraday trade.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 965.02 crore yesterday, 22 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 157.75 crore yesterday, 22 May 2019, as per provisional data.

Among corporate news, HDFC Bank said that its board approved sub-division of one equity share of face value of Rs 2 each to two equity shares of face value of Re 1 each. The announcement was made after market hours yesterday, 22 May 2019.

Wipro announced that it has developed a blockchain-based payment solution for Travacoin, a company specializing in an eponymous digital payment solution. Travacoin is a digital payment system which enables airlines to refund and compensate passengers in a timely manner when a disruption occurs. The announcement was made after market hours yesterday, 22 May 2019.