Market is seen opening slightly higher. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11.50 points at the opening bell.

In overseas stock markets, Asian stocks witnessed a mixed trend. In Japan, the Nikkei 225 Average was currently up 1.39%. Investors are hoping for further easing of monetary policy from the Bank of Japan (BOJ) after the conclusion of a two-day monetary policy meeting on 28-29 July 2016. Strength in the yen against the dollar post last month's Brexit vote and data showing a slowdown in the Japanese economy have triggered expectations of further easing of monetary policy from the BOJ. A stronger yen hurts the competitiveness of Japanese exporters.

US stocks closed marginally higher yesterday, 26 July 2016, amid major earnings reports and ahead of the central bank meeting. The Federal Open Market Committee (FOMC) is widely expected to keep the benchmark fed funds rates unchanged after the conclusion of two-day monetary policy later in the global day today, 27 July 2016. Market participant will scrutinize the Fed statement for clues on policy direction. The Fed has kept the benchmark fed funds rate unchanged after raising it for the first time in nearly a decade in December 2015.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 670.89 crore yesterday, 26 July 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 418.29 crore yesterday, 26 July 2016, as per provisional data.

Among corporate news, Ambuja Cements' net profit rose 76.5% to Rs 399.51 crore on 2.44% growth in total income to Rs 2677.93 crore in Q2 June 2016 over Q2 June 2015. The result was announced after market hours yesterday, 26 July 2016.

Bharti Airtel, HDFC, Asian Paints, Yes Bank and Bajaj Auto are scheduled to unveil Q1 June 2016 results today, 27 July 2016.

Zee Entertainment Enterprises' (Zee) consolidated net profit rose 21.76% to Rs 216.96 crore on 14.74% increase in total income to Rs 1531.80 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.

Advertising revenues rose 19.2% to Rs 912 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic advertising revenues stood at Rs 841.50 crore while international advertising revenues stood at Rs 70.50 crore. Subscription revenues rose 14.2% to Rs 528.20 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic subscription revenues stood at Rs 417.90 crore while international subscription revenues stood at Rs 110.30 crore.

Consolidated operating revenues rose 18.5% to Rs 1571.60 crore in Q1 June 2016 over Q1 June 2015.

Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 44.1% to Rs 453.20 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin rose sharply to 28.83% in Q1 June 2016 from 23.71% in Q1 June 2015.

The company has adopted Indian Accounting Standards (Ind-AS) reporting methodology for reporting its financials commencing Q1 June 2016. Like-to-like financials for previous quarters (Q1 June 2015) have been restated accordingly.

Disappointing first quarter results from passenger car major Maruti Suzuki India (MSIL) and weak results from Dr Reddy's Laboratories (DRL) pulled the market lower towards the fag end of the trading session yesterday, 26 July 2016. The Sensex fell 118.82 points or 0.42% to settle at 27,976.52, its lowest closing level since 22 July 2016.