Market is seen opening higher, tracking strong leads from Asian markets and overnight gains on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 70.29 points at the opening bell.

In overseas markets, Asia markets spurted today, 25 May 2016, after encouraging reports on the housing market saw gains in US stocks. US new home sales data out yesterday, 24 May 2016, showed a jump in April to their strongest monthly pace in more than eight years, with prices setting record highs.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 815.53 crore yesterday, 24 May 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 989.95 crore yesterday, 24 May 2016, as per provisional data.

Among corporate news, Tech Mahindra's consolidated net profit rose 18.15% to Rs 897 crore on 2.72% rise in revenue from services to Rs 6883.70 crore in Q4 March 2016 over Q3 December 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 2.2% to Rs 1161.30 crore in Q4 March 2016 over Q3 December 2015. The EBITDA margin dropped to 16.87% in Q4 March 2016 from 16.95% in Q3 December 2015. The result was announced after market hours yesterday, 24 May 2016. Meanwhile, the company has dropped its plan to set up a payments bank. The company had received in-principle approval from the Reserve Bank of India in August 2015 for setting up a payments bank.

Axis Bank said that the bank has incorporated a company, A.Treds, which is registered with the Ministry of Corporate Affairs, Registrar of Companies, Mumbai, on 23 May 2016. A.Treds is incorporated as a subsidiary company of the bank, Axis Bank. A.Treds will be engaged in undertaking the business of setting up and operating a trade receivables discounting system, as per the in-principal approval received from the Reserve Bank of India. The announcement was made after market hours yesterday, 24 May 2016.

Bharti Airtel (Airtel) will be watched. On 17 March 2016, Airtel and Videocon Telecommunications (VTL) entered into a definitive agreement, wherein, Airtel proposed to acquire, for an aggregate consideration of Rs 4428 crore, the rights to use 2 x 5 MHz spectrum in the 1800 MHz band allotted to VTL by the Government of India for six circles – Bihar, Gujarat, Haryana, Madhya Pradesh , UP (East) and UP (West). The proposed transaction has been successfully concluded on 24 May 2016 following all necessary approvals and the satisfaction of all the conditions (including conditions stated in the Spectrum Trading Guidelines), the two companies said in a joint statement after market hours yesterday, 24 May 2016.

Cipla's consolidated net profit fell 68.85% to Rs 80.87 crore on 5.62% growth in total income from operations (net) to Rs 3266.54 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016.

Bank of India posted a net loss of Rs 3587.09 crore in Q4 March 2016, higher than net loss of Rs 56.14 crore in Q4 March 2015. Total income fell 7.34% to Rs 11384.91 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 24 May 2016. The bank's gross non-performing assets (NPAs) stood at Rs 49879.13 crore as on 31 March 2016 as against Rs 36519.14 crore as on 31 December 2015 and Rs 22193.24 crore as on 31 March 2015. The ratio of gross NPAs to gross advances stood at 13.07% as on 31 March 2016 as against 9.18% as on 31 December 2015 and 5.39% as on 31 March 2015. The ratio of net NPAs to net advances stood at 7.79% as on 31 March 2016 as against 5.25% as on 31 December 2015 and 3.36% as on 31 March 2015.

An upward revision in monsoon forecast for the June-September 2016 south west monsoon season from private weather forecaster Skymet and gains in European stocks aided the upmove on the domestic bourses, with the barometer index, the S&P BSE Sensex, and the Nifty 50 index snapping a four-day losing streak yesterday, 24 May 2016. The Sensex gained 75.11 points or 0.3% to settle at 25,305.47. The Nifty rose 17.80 points or 0.23% to settle at 7,748.85. Skymet revised higher forecast for the 2016 southwest monsoon to 109% of the long period average (LPA) from 105% of the LPA predicted earlier. The announcement from Skymet hit the market towards the close of the trading session.