Key indices may trade flat to slightly lower in the opening trade amid mixed Asian cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 2 points at the opening bell.

Overseas, Asian stocks were mixed. The Dow Industrial Average yesterday, 18 January 2017, closed at the lowest level of 2017, marking a fourth straight day in the red for the blue-chip gauge, but the broader stock market managed modest gains. Federal Reserve Chairwoman Janet Yellen said she expects rate hikes a few times a year until the end of 2019.

Among economic data in US, industrial output accelerated last month at its strongest pace in two years. The housing-market index from the National Association of Homebuilders showed that builder sentiment slipped in January after notching its highest reading of the business cycle in December. Despite the drop, the January number was the second-highest reading of the cycle.

Wall Street trading over the past several days has been subdued as investors await signs that the stock-market rally that followed President-elect Donald Trump's November election victory, supported by his campaign promises to increase fiscal spending, cut taxes and roll back regulations, is based in reality and underpinned by solid corporate quarterly results.

Among corporate news, Cipla announced that its wholly owned subsidiary Goldencross Pharma has entered in to a definitive agreement to sell its 100% equity stake in Four M Propack Limited, India (Four M Propack) to Shriji Polymers (India) (Shriji Polymers) for a consideration of Rs 13.5 crore and an additional sum derived on the basis of the value of mutual funds, cash and bank balance, tax refunds, etc. at the time of closing estimated at around Rs 5.7 crore. The announcement was made after market hours yesterday, 18 January 2017.

Shriji Polymers is engaged in the business of manufacturing of HDPE bottles and PP caps for the pharmaceutical industry. The turnover of Four M Propack for the financial year ended 31 March 2016 was Rs 9.77 crore which is entirely on account of sales to the company. The net worth of Four M Propack as on 31 March 2016 was Rs 15.82 crore constituting 0.001% of the consolidated net worth of the company.

The transaction is expected to be completed within 45 days from date of signing of the definitive agreement, subject to completion of certain condition precedent and receipt of applicable approvals.

Cipla said that none of the persons belonging to promoter/promoter Group(s) of the company has any interest in the transaction and it is not a related party transaction for the company.

Axis Bank and Yes Bank will announce Q3 results today, 19 January 2017.

Meanwhile, key benchmark indices settled with tiny gains after a volatile session of trade yesterday, 18 January 2017, amid mixed cues from the global stocks. The Sensex rose 21.98 points or 0.08% to settle at 27,257.64, its highest closing level since 10 November 2016.

Trading activity yesterday, 18 January 2017 showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 319.14 crore, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 245.03 crore yesterday, 18 January 2017, as per provisional data.