Market is seen opening lower in the early trade tracking weak leads from Japanese stocks and overnight slide on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 63 points.

In overseas markets, Japanese stocks nose-dive today, 9 February 2016, and join the global sell-off, after the stock markets in the US and Europe fell sharply lower the day earlier on the back of steep declines in the banking and financial sectors' stocks. Rest of Asia remains closed for the Lunar New Year. China and Taiwan are shut for the week, while markets in Hong Kong, Singapore, South Korea, Malaysia and Vietnam are closed today, 9 February 2016. The Japanese benchmark index, the Nikkei 225 slumped 4.92%. US stocks trimmed sharp losses but still ended broadly lower yesterday, 8 February 2016, with the S&P 500 posting its lowest close since April 2014 amid a fresh drop in crude oil prices, jitters over European banks and continuing fears of a global economic slowdown.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 84.56 crore yesterday, 8 February 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 279.49 crore yesterday, 8 February 2016, as per provisional data.

On the economic front, India's Gross Domestic Product (GDP) expanded at slower pace of 7.3% in Q3 December 2015 compared with 7.7% growth recorded in the previous quarter Q2 September 2015. However, the growth is showing acceleration from 6.6% growth recorded in Q3 December 2014. Meanwhile, the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, has revised its full year GDP growth estimate for the financial year ending March 2016 to 7.6% from 7.1-7.5% range earlier. The data was released after market hours yesterday, 8 February 2016.

Among corporate news, MindTree after market hours yesterday, 8 February 2016 announced that it has been selected by Sandvik, a global engineering group in tooling, materials technology, mining and construction, to foster its IT services integration capabilities.

Among quarterly results of prominent companies, Dr Reddy's Laboratories, Hindalco Industries, Punjab National Bank and GAIL (India) are scheduled to announce their Q3 December 2015 results today, 9 February 2016.

Key equity benchmark indices witnessed a sudden slide during the latter part of the trading session yesterday, 8 February 2016, as trading in US index futures pointed to a sharp slide in US stocks later in the global day amid fears the Federal Reserve may raise interest rates this year in the wake of mixed US employment data. The barometer index, the S&P BSE Sensex lost 329.55 points or 1.34% to settle at 24,287.42. The 50-unit Nifty 50 index lost 101.85 points or 1.36% to settle at 7,387.25. A setback in European stocks also triggered the latest slide on the domestic bourses. The Sensex and the Nifty, both, reversed trend after hitting their highest level in almost one week.