Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10 points at the opening bell.

In overseas stock markets, Asian stocks witnessed a mixed trend. In Japan, the Nikkei 225 Average was currently down 0.69%. Investors are hoping for further easing of monetary policy from the Bank of Japan (BOJ) after the conclusion of a two-day monetary policy meeting on 28-29 July 2016. Strength in the yen against the dollar post last month's Brexit vote and data showing a slowdown in the Japanese economy have triggered expectations of further easing of monetary policy from the BOJ. A stronger yen hurts the competitiveness of Japanese exporters.

US stocks closed mixed yesterday, 27 July 2016, after the Federal Reserve statement and major earnings reports. The Federal Open Market Committee (FOMC) has decided not to raise interest rates, maintaining the ultra-low level they have been at since December 2015. The US central bank opted to keep rates between 0.25% and 0.5%. The Fed said near-term risks to the economic outlook have diminished but inflation remained below the bank's target.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 404.69 crore yesterday, 27 July 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 152.47 crore yesterday, 27 July 2016, as per provisional data.

Among corporate news, Asian Paints' consolidated net profit after minority interest rose 17.9% to Rs 535 crore on 10.2% increase interest from operations to Rs 4082.10 crore in Q1 June 2016 over Q1 June 2015. Profit before depreciation, interest, and taxes (PBDIT) rose 20.9% to Rs 820.30 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 27 July 2016.

K.B.S. Anand, Managing Director & CEO, Asian Paints said that the decorative business segment India registered double digit growth during the quarter. Lower raw material prices led to improved margins. Industrial business registered good growth in the industrial liquid paints category for the company's joint venture (JV) AP-PPG while the other JV PPG-AP saw good demand in the auto original equipment manufacturers (OEM) and general industrial segment. The company's international business performed well, aided by good growth in markets like Nepal, UAE and Fiji. Both the segments in the home improvement category -- the Kitchen (Sleek) and Bath (ESS ESS) businesses -- delivered good topline growth in the quarter as compared to the previous year.

Bharti Airtel's consolidated net profit fell 30.8% to Rs 1462 crore on 7.9% increase in total revenue to Rs 25546 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 27 July 2016.

The consolidated revenue grew 8.4% to Rs 25546 crore in Q1 June 2016 over Q1 June 2015 on an underlying basis, adjusted for Africa divested operating unit and tower assets sale.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 16.4% to Rs 9591 crore in Q1 June 2016 over Q1 June 2015. The EBITDA margin edged up to 37.5% in Q1 June 2016 from 34.8% in Q1 June 2015.

The company has adopted Indian Accounting Standards (Ind-AS) for its consolidated results effective 1 April 2016 with periods reinstated for like to like comparison.

Consolidated mobile data revenue grew by 34.1% to Rs 4640 crore in Q1 June 2016 over Q1 June 2015.

India revenues grew by 10.3% to Rs 19155 crore in Q1 June 2016 over Q1 June 2015. This was led by healthy growth of 9.1% in Mobile, 11.0% in Homes, 22.2% in Digital TV and 10.4% in Airtel Business on year-on-year (Y-o-Y) basis.

The company has realigned its India segment reporting in line with management reorganisation. Consequently, Airtel Business also now includes the erstwhile Corporate fixed line voice and fixed line data business which was hitherto reported with Telemedia segment. Mobile data revenues cross Rs 3500 crore and at Rs 3525 crore grew by 35.1% Y-o-Y, led by increase in the data customer base by 19.1% and traffic by 54.9%. Mobile broadband customers increased by 68.3% to 36.6 million from 21.7 million in the corresponding quarter last year. Data average revenue per user (ARPU) has moved up by Rs 21 Y-o-Y to Rs 202 in Q1 June 2016, led by 28.1% increase in usage per customer. Mobile Data revenues now contribute to 23.7% of Mobile India revenues vis-à-vis 19.2% in the corresponding quarter last year.

Eicher Motors is scheduled to announce Q1 June 2016 results today, 28 July 2016.

Sun Pharmaceutical Industries (Sun Pharma) said it signed an agreement with RPG Life Sciences on 27 July 2016 to divest seven prescription brands in India, owned by Sun Pharmaceutical Industries and its subsidiary, for a consideration of Rs 41 crore. The seven divested brands include brands used for treatment of respiratory-track infections, urological disorders, cardiovascular diseases and brands in health supplements segment. This divestment is subject to receipt of Competition Commission of India's (CCI) approval. The announcement was made after market hours yesterday, 27 July 2016.

Separately, Sun Pharma before market hours today, 28 July 2016, announced a licencing agreement with Almirall on the development and commercialization of Tildrakizumab for psoriasis in Europe. Tildrakizumab is an investigational IL-23p19 inhibitor currently being evaluated in patients with moderate-to-severe plaque psoriasis. Under the terms of the licence agreement, Almirall will pay Sun Pharma an initial upfront payment of $50 million. Phase-3 studies of Tildrakizumab have recently been completed. Sun Pharma will be eligible to receive development and regulatory milestone payments and, additionally, sales milestone payments and royalties on net sales, the terms of which are confidential. Almirall will be able to lead European studies, and participate in larger global clinical studies for psoriasis indication subject to the terms of the Sun Pharma-Merck agreements, as well as certain cost sharing agreements. Sun Pharma will continue to lead development of Tildrakizumab for other indications, where Almirall will have right of first negotiation for certain indications in Europe. Additionally, the license agreement has a provision for possible co-promotion agreement at some point in the future, subject to certain conditions, Sun Pharma said in a statement.

Amid hopes for the passage of the Goods and Services Tax (GST) constitution amendment bill during the ongoing monsoon session of parliament, the two benchmark indices eked out small gains yesterday, 27 July 2016. The Sensex rose 47.81 points or 0.17% to settle at 28,024.33, its highest closing level since 25 July 2016.