Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 21.50 points at the opening bell on firm Asian stocks.

Overseas, Asian stocks gained although losses on Wall Street slowed the advance. Investors continue to watch the latest US budget battle on Capitol Hill, where uncertainly over a possible partial government shutdown this weekend continues. Legislation to avoid a US government shutdown at midnight on Friday advanced in Congress as the House of Representatives on Thursday night approved an extension of federal funds through 16 February, although the bill faced uncertain prospects in the Senate.

US stock benchmarks finished lower yesterday, 18 January 2018, pressured by worries over the possibility of a partial government shutdown, as investors sorted through a fresh batch of quarterly earnings results.

First-time weekly jobless claims fell to a 45-year low, dropping by 41,000 to 220,000. Meanwhile, construction on new houses fell 8.2% in December to a 1.19 million annual rate. Permits for future construction were basically flat at 1.30 million. Still, permits, housing starts and the number of new homes completed all hit the highest levels since 2007. A gauge of Philadelphia-area manufacturing fell to five-month low of 22.2 in January, the Philadelphia Fed said.

Among corporate news back home, on a consolidated basis, Bharti Airtel's net profit fell 16.50% to Rs 560.70 crore on 12.93% decline in net sales to Rs 20318.60 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 18 January 2018.

HDFC Bank, IDFC Bank, Kotak Mahindra Bank and Wipro will declare October-December 2017 results on Friday, 19 January 2018.

Tech Mahindra said that it will acquire 17.5% stake in US-based Altiostar Networks for $15 million. Altiostar is a telecom software development company, having presence in 6 countries in Europe, APAC and Latam regions. The announcement was made after market hours yesterday, 18 January 2018.

The Union Finance Minister Arun Jaitley Chaired the 25th meeting of the GST Council in New Delhi yesterday, 18 January 2018. The Council has recommended certain changes in GST/IGST rate and clarifications in respect of GST rate on certain goods as per discussions in the 25thGST Council Meeting. It slashed the tax rate+ on 54 services and 29 items, including old and used motor vehicles bio-diesel, while also simplifying return filing process for businesses.

Key benchmark indices registered modest gains in a highly volatile session of trade yesterday, 18 January 2018, triggered by reports indicating that the government is mulling a proposal to hike foreign direct investment (FDI) limit in the banking sector. Positive global stocks also underpinned sentiment. The Sensex gained 178.47 points or 0.51% to settle at 35,260.29, a record closing high.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1894.99 crore yesterday, 18 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 657.46 crore yesterday, 18 January 2018, as per provisional data.