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India: markets close on a positive note

The Indian stock market landed in positive territory on Wednesday, July 5 ahead of the quarterly earnings season. However, upbeat sentiment was subdued amid geopolitical tension in the Korean Peninsula.

Automotive names outperformed the broader market, while high-tech equities were out of favor.

Recapping the benchmarks, the Nifty 50 advanced 0.25% to 9,637.60, and the BSE Sensex closed up 0.11% at 31,245.56.

By 10:45 GMT, USD/INR ticked down 0.01% to 64.777, while EUR/INR slid 0.24% to 73.3365. The 10-year Indian government bond yield stood at 6.539%.

As noted above, high-tech names underperformed the broader market. Specifically, Wipro, Infosys and Tata Consultancy Services shed 0.85%, 1.17% and 0.46%, respectively.

Meanwhile, Hero MotoCorp, Bajaj Auto, Tata Motors and Mahindra & Mahindra rose 0.17%, 0.10%, 1.14% and 2.20% respectively.

Reliance Industries was well bid, adding 1.46% on expectations of upbeat earnings for the last quarter.

The daily chart shows that the BSE Sensex continues to trade within a rising band, while the Slow Stochastic Oscillator remains bull-friendly at this point. As a result, the benchmark still holds upside potential in the short term. 


$SENSEX, BSE Sensex / D