Key indices may edge higher in early trade tracking gains in most of the Asian stocks. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the index could gain 20.75 points at the opening bell.

In overseas stock markets, Asian stocks rose tracking overnight gains in US stocks as commodities prices rebounded. US stocks finished higher yesterday, 29 August 2016 on increased prospects for Federal Reserve rate increases in 2016. Investors continued to weigh remarks by Federal Reserve Chairwoman Janet Yellen, who said late last week in Jackson Hole, Wyo., that an improving US economy had strengthened the case for a rate increase. The Fed last December delivered its first rate increase in nearly a decade. The focus is now on US nonfarm-payroll data for August due this Friday, 2 September 2016.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 286.52 crore yesterday, 29 August 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 17.49 crore yesterday, 29 August 2016, as per provisional data.

Among corporate news, Coal India after market hours yesterday, 29 August 2016, announced that it has fixed 9 September 2016 as the record date for the purpose of buyback of equity shares. The company's board on 11 July 2016, approved buyback of shares at a price of Rs 335 per share for an aggregate consideration not exceeding Rs 3650 crore through the tender offer route. The company's promoters would participate in the buyback.

Zee Entertainment Enterprises (Zee) in its clarification with regard to news item titled "Sony likely to buy Ten Sports from Zee Entertainment for about Rs 2000 crore" said that the company is at an advanced stage of discussion for sale of the sports business with potential buyers. However, owing to confidentiality provisions, the company is unable to comment on specific details or timelines, Zee said. Appropriate disclosures will be made as and when any reporting event arises, the company added. The company issued the clarification after market hours yesterday, 29 August 2016.

Mahindra & Mahindra (M&M) after market hours yesterday, 29 August 2016, announced the incorporation of a subsidiary company viz. Bristlecone Middle East DMCC, for providing business consulting, software implementation and related support services.

Wipro announced after market hours yesterday, 29 August 2016, a partnership with Stibo Systems, a global leader in multi-domain Master Data Management (MDM) solutions. As part of the partnership, the two companies will collaborate to offer MDM solutions. This partnership is aimed at building trust-worthy data foundations to help joint customers derive accurate insights as they embrace digital transformation, Wipro and Stibo Systems said in a joint press release.

Auto, metal stocks and index heavyweight Reliance Industries led modest gains for key benchmark indices in a volatile trading session yesterday, 29 August 2016. The Sensex rose 120.41 points or 0.43% to settle at 27,902.66, its highest closing level since 24 August 2016.