Market is seen opening lower, tracking negative leads from other Asian stocks. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 27.50 points at the opening bell.

Overseas, Asian stocks were trading lower as caution gripped investors ahead of the US Federal Reserve policy meeting later in the week. US stocks ended modestly higher on Friday, 16 March 2018, with the S&P 500 breaking a four-day losing streak.

US industrial production jumped 1.1% in February, the largest increase in four months. In a separate report, the Commerce Department said housing starts declined 7% to a seasonally adjusted annual rate of 1.236 million units in February. Further, the University of Michigan consumer-sentiment index rose to 102 in March from 99.7 in February.

The US Federal Reserve's two-day monetary policy meeting is scheduled on March 20-21. Strengthening labor market and a steady increase in price pressures could pave the way for the Federal Reserve to raise interest rates in upcoming meeting. The US central bank has forecast three rate increases for this year, but there are also expectations that it will raise its projection to four hikes at the meeting.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 150.46 crore on Friday, 16 March 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 770.53 crore on Friday, 16 March 2018, as per provisional data.

Among corporate news, Yes Bank said that its Capital Raising Committee (CRC) would consider a potential issuance of second tranche of Notes under the Medium Term Note Programme of the bank, within the limits permitted by regulatory authorities, on or after 21 March 2018. The announcement was made after market hours on Friday, 16 March 2018.

It may be recalled that Yes Bank had informed in November 2017 that the CRC of the board of directors of the bank had approved the setting up of the Medium Term Note Programme of the bank aggregating to an amount of $1 billion, out of which $600 million has already been drawn in the first tranche.

Axis Bank said it has reviewed and retained the marginal cost of funds based lending rates (MCLRs) across all tenors effective from 17 March 2018. The bank's MCLRs vary between 7.85% and 8.5% ranging from overnight to three-year tenors. The announcement was made after market hours on Friday, 16 March 2018.

Grasim Industries said that the production capacity of Epoxy Resin, Reactive Diluents and Hardeners at company's Epoxy Plant at Vilayat ( Gujarat) has increased from 82,350 million tons per annum (MTPA) to 1,23,097 MT per annum through de-bottlenecking process. The announcement was made after market hours on Friday, 16 March 2018.

NBCC (India) said it has secured the total business of Rs 242 crore in February 2018. The announcement was made on Saturday, 17 March 2018.

Domestic stocks suffered steep losses in a broad-based sell-off on Friday, 16 March 2018, with the barometer index, the S&P BSE Sensex, and the Nifty 50 index, closing at over one-week low. The barometer index, the S&P BSE Sensex, lost 509.54 points or 1.51% to settle at 33,176. The Nifty 50 index dropped 165 points or 1.59% to settle at 10,195.15. Sentiment took a hit after Telugu Desam Party (TDP) reportedly decided to quit the ruling National Democratic Alliance (NDA) government.