Market is seen opening slightly higher tracking positive cues from global markets. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 8.50 points at the opening bell.

In overseas stock markets, Asian stocks were mostly higher tracking gains in US market overnight. In mainland China, the Shanghai Composite was currently off 0.07%. In Hong Kong, the Hang Seng was currently up 0.12%. The MNI China business sentiment index came it at 55.8 in September 2016, up from a marginally revised 54.1 in August, driven by a faster increase in new orders and a further strengthening in confidence among manufacturing companies. In Japan, the Nikkei 225 Average was currently down 0.09%. Japanese manufacturing activity expanded for the first time in seven months in September, a preliminary survey showed today, 23 September 2016. The IHS Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) rose to 50.3 in September from a final 49.5 in August on a seasonally adjusted basis.

US stocks registered modest gains yesterday, 22 September 2016, extending previous trading session's gains as investors digested several economic data releases while processing the Federal Reserve's latest monetary policy decision. US home resales unexpectedly fell in August 2016. The National Association of Realtors said yesterday, 22 September 2016 that existing home sales declined 0.9% to an annual rate of 5.33 million units.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 336.87 crore yesterday, 22 September 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 310.35 crore yesterday, 22 September 2016, as per provisional data.

Among corporate news, shares of L&T Technology Services will debut on bourses today, 23 September 2016. The company had priced its initial public offer (IPO) at Rs 860 per share, the top end of the Rs 850-860 per share price band for the IPO. The IPO which closed on 15 September 2016 received strong response from investors.

Bharat Heavy Electricals (Bhel)'s chairman & managing director, Atul Sobti, said that in spite of financial year ended March 2016 (FY 2016) being an extremely challenging year, the company recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in FY 2016, ending the year with significant traction in growth drivers.

Addressing shareholders at the 52nd annual general meeting of the company, Mr. Sobti said that enhanced focus on project execution has resulted in Bhel creating history by way of commissioning/synchronizing an all-time high 15,059 megawatts (MW) of power generating equipment during the year. Despite intense competitive pressure in the power and capital goods markets during the year, Bhel achieved the highest order booking in the last five years, at Rs 43727 crore, a 42% leap over 2014-2015. The company ended the year with a total order book of Rs 110730 crore for execution in 2016-2017 and beyond. The announcement was made after market hours yesterday, 22 September 2016.

Banking, auto sector stocks and index heavyweights Reliance Industries and HDFC led decent gains for key benchmark indices yesterday, 22 September 2016. The Sensex had risen 265.71 points or 0.93% to settle at 28,773.13, its highest closing level since 9 September 2016.