Market is seen extending previous session's losses tracking negative leads from Asian markets and overnight slide in the US market. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 14.30 points at the opening bell.

In the overseas market, Asian stock markets were mostly lower today, 29 April 2016, extending losses from the previous session, following an overnight sell-off on the Wall Street. However, higher commodity prices lifted resources stocks. US market ended lower yesterday, 28 April 2016, under the combined weight of disappointing data and weak corporate earnings. US gross domestic product grew only 0.5% in the first quarter, its slowest pace in two years.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 120.63 crore yesterday, 28 April 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 416.21 crore yesterday, 28 April 2016, as per provisional data.

Among corporate news, ICICI Bank will announce Q4 results today, 29 April 2016.

Idea Cellular's consolidated net profit fell 38.87% to Rs 575.63 crore on 10.63% rise in total income to Rs 9524.09 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 28 April 2016. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) margin improved to 38.1% in Q4 March 2016 from 36.4% in Q4 March 2015. Consolidated EBITDA rose 18% to Rs 3616 crore in Q4 March 2016 from Q4 March 2015.

Ambuja Cements' net profit fell 4.38% to Rs 303.76 crore on 0.88% rise in total income to Rs 2580.85 crore in Q1 March 2016 over Q1 March 2015. The result was announced after market hours yesterday, 28 April 2016. Ambuja Cements said that inspite of lower production and distribution cost net profit was lower mainly due to lower prices, additional provision towards contribution to District Mineral Foundation and increased advertising and promotion expenses.

On a consolidated basis, Vedanta posted net loss of Rs 11181 crore in Q4 March 2016, lower than net loss of Rs 19228 crore in Q4 March 2015. Net sales fell 11% to Rs 15829 crore in Q4 March 2016 over Q4 March 2015. Net profit before exceptional items surged 89% to Rs 955 crore in Q4 March 2016 over Q4 March 2015. Non-operational income or the so-called other income surged 3485.68% to Rs 1289 crore in Q4 March 2016 over Q4 March 2015. Vedanta said that the non-operational income income was significantly higher in Q4 March 2016 largely due to timing differences wherein income earned on certain investments are recognized at maturity. During the quarter, a substantial portion of investments were liquidated at Hindustan Zinc on account of an announcement of special dividend and at Cairn India.

Earnings before interest, tax, depreciation and amortization (EBITDA) dropped 13% to Rs 3508 crore in Q4 March 2016 over Q4 March 2015. Exceptional items in Q4 March 2016 totalled Rs 12312 crore, of which Rs 12304 crore pertained to impairment. The impairment was triggered by the continued fall in oil prices during the year. Further, in light of the declining iron ore prices, both the acquisition goodwill and carrying value of the exploratory assets in West Africa (Western Cluster, Liberia) have also been impaired to the extent of Rs 1490 crore. Additionally, certain unused fixed assets and goodwill at copper mines of Tasmania and Bellary, Karnataka (Iron Ore) incurred an impairment charge of Rs 456 crore. Vedanta announced the fourth quarter results after trading hours yesterday, 28 April 2016.

The fall in EBITDA in Q4 March 2016 was primarily due to a steep fall in oil and metal prices and premia; partly offset by cost saving initiatives and strong volumes, Vedanta said. Revenues in Q4 March 2016 were 11% lower on account of the fall in oil and metal prices, which were partially offset by higher volumes, the company said.

Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. have announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage (PPH). Methergine is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG). Lupin made the announcement at fag end of the trading session yesterday, 28 April 2016.

Dabur India said that in order to meet the growing demand for products of the company, the board of the directors of the company in its meeting held on 28 April 2016 has approved a capital expenditure of Rs 250 crore for setting up a manufacturing plant at Tezpur, Assam which shall be financed through internal accruals. The plant is likely to commence the operations in the year 2017. The announcement was made after market hours yesterday, 28 April 2016.

Zee Entertainment Enterprises said that the integration of channel distribution functions within the company is proposed to be done with effect from 1 May 2016 instead of 1 April 2016 as approved by the board. This change has been necessitated to facilitate strict compliance with the requirement of submitting Reference Interconnect Offer (RIO) to regulators in pursuance of subsequent judicial pronouncement. Further the company noted that, the change shall not have any impact on its consolidated financials for the year ended 31 March 2017 (FY 2017). The announcement was made after market hours yesterday, 28 April 2016.

A disappointment from the Japanese central bank, which held off from expanding monetary stimulus, pulled global stocks lower, with Indian stocks witnessing a sharp slide yesterday, 28 April 2016. The barometer index, the S&P BSE Sensex, slumped 461.02 points or 1.77% to settle at 25,603.10. The decline for the Nifty 50 index was lower than the Sensex's fall in percentage terms. The Nifty shed 132.65 points or 1.66% to settle at 7,847.25. The Sensex fell below the psychologically important 26,000 mark. The Sensex and the Nifty, both, hit their lowest closing level in more than two weeks. World stocks fell after the Bank of Japan left its main policies unchanged after the conclusion of a two-day monetary policy meeting, disappointing market expectations the central bank would take further extraordinary steps to stimulate Japan's economy.