Domestic stocks are likely to open higher on positive Asian stocks. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 33 points at the opening bell.

Overseas, Asian stocks were trading higher as investors were on edge ahead of a vote on US health care later today, 23 March 2017 that could be a barometer for future Trump administration policies. In US, the Dow fell for a fifth straight session Wednesday as the broader market staged a modest rebound on the back of technology stocks.

Investors have been bracing for today's floor vote scheduled in the US House of Representatives. US President Donald Trump and Republican congressional leaders appeared yesterday, 22 March 2017 to be losing the battle to get enough support to pass the Obamacare rollback bill.

US stocks had rallied after the November 2016 presidential election, on bets that the pro-growth Trump agenda would be quickly pushed by a Republican Party with majorities in both chambers of Congress.

On the economic front, sales of previously-owned homes tumbled in February as the housing market remains choked by tight inventory. Existing-home sales were at a 5.48 million seasonally-adjusted annual rate last month, the National Association of Realtors said yesterday, 22 March 2017.

Back home, the key benchmark indices settled sharply lower yesterday, 22 March 2017, weighed by weakness in global stocks amid increasing concerns regarding US President Donald Trump's economic growth agenda. The Sensex lost 317.77 points or 1.08% to settle at 29,167.68, its lowest closing level since 10 March 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 356.64 crore yesterday, 22 March 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 779.91 crore yesterday, 22 March 2017, as per provisional data.

Among corporate news, Hindustan Zinc said its board of directors at a meeting held on Wednesday, 22 March 2017, approved special interim dividend of Rs 27.50 per share for the year ending 31 March 2017 (FY 2017). The record date for the payment of interim dividend is 30 March 2017. The announcement was made after market hours yesterday, 22 March 2017.

Axis Bank announced that its board passed a resolution approving the allotment of 1 year senior fixed rate notes aggregating to $16.2 million under the MTN Programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 22 March 2017.

IndusInd Bank announced that the finance committee of the board yesterday, 22 March 2017, allotted debentures for cash aggregating to Rs 1000 crore on Private Placement basis towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds). The bonds will be listed on the wholesale debt market (WDM) segment of National Stock Exchange of India (NSE). The announcement was made after market hours yesterday, 22 March 2017.

State Bank of India (SBI) announced that it has made payment of Rs 219.93 crore (principal amount plus interest) on 22 March 2017, to the eligible bondholders of under Upper Tier-II subordinated bonds issued on 22 March 2007, by the erstwhile State Bank of Indore since merged with SBI. The announcement was made after market hours yesterday, 22 March 2017.