Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 67.50 points at the opening bell as weak Asian cues spoiled sentiment.

In overseas markets, Asian markets extended fall in the Lunar New Year's first week of trading, with sell-offs in Japan and Singapore today, 10 February 2016. Hong Kong and South Korea will resume trading on Thursday. Mainland Chinese markets and Taiwan will be closed for the week. US stocks reported small losses yesterday, 9 February 2016, as a rally in materials was offset by losses in the energy sector fueled by a fresh drop in oil prices amid a global stock selloff.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 680.70 crore yesterday, 9 February 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 174.14 crore yesterday, 9 February 2016, as per provisional data.

Among corporate news, TCS will be in focus. In an event held by Nasscom in Mumbai, TCS allayed market concerns about the state of demand in the banking and financial services (BFS) industry vertical by reiterating that the company's business in the BFS vertical continues to grow well, ahead of the overall company growth. The company pointed out that revenue from the BFS industry vertical in calendar year (CY) 2015 grew by 15% year-on-year in constant currency terms. On the other hand, company-wide revenue grew 13.5% on a constant currency revenue basis in CY 2015, representing absolute incremental revenue of $2.025 billion, TCS said. On an organic basis, TCS' constant currency revenue addition of $1.85 billion is the highest in the industry in CY 2015, the company said. The announcement was made by the company after market hours yesterday, 9 February 2016.

Among quarterly results of prominent companies, ACC and Ambuja Cements are scheduled to announce their Q4 December 2015 results today, 10 February 2016. Cipla is scheduled to announce its Q3 December 2015 results today, 10 February 2015.

Allahabad Bank reported net loss of Rs 486.14 crore in Q3 December 2015 as against net profit of Rs 164.11 crore in Q3 December 2014. Total income declined 6.61% to Rs 5030.19 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 9 February 2016. The bank's provisions and contingencies surged 87.7% to Rs 1208.15 crore in Q3 December 2015 over Q3 December 2014. Allahabad Bank's gross non-performing assets (NPAs) stood at Rs 9802.10 crore as on 31 December 2015 compared with Rs 7985.75 crore as on 30 September 2015 and Rs 8012.42 crore as on 31 December 2014. The ratio of gross NPAs to gross advances stood at 6.4% as on 31 December 2015 as against 5.26% as on 30 September 2015 and 5.46% as on 31 December 2014. The ratio of net NPAs to net advances stood at 4.23% as on 31 December 2015 as against 3.61% as on 30 September 2015 and 3.89% as on 31 December 2014. The bank's non-performing loan provision coverage ratio as on 31 December 2015 stood at 55.4%.

Banking, IT and capital goods stocks led losses as key equity benchmark indices edged lower for the second day in a row yesterday, 9 February 2016. The barometer index, the S&P BSE Sensex, lost 266.44 points or 1.1% to settle at 24,020.98. The losses for 50-unit Nifty 50 index were higher in percentage terms than those for Sensex. The Nifty lost 89.05 points or 1.21% to settle at 7,298.20. Weakness in global stocks weighed on sentiment on the domestic bourses.