On Tuesday, July 19, India’s stock indices landed in the green after quite volatile intraday trading. On the one hand, a drop in the oil price and Hindustan Unilever’s lackluster earnings report sparked pessimism among investors. On the other hand, the Indian central bank’s scheduled interventions and remarks by international rating agency Fitch played into the hands of the bulls.Notably, the Central Bank of India intends to provide 13 state-run banks with INR 229.15 bn (USD 3.41 bn) for recapitalization purposes and higher lending in the country. In the meantime, international rating agency Fitch affirmed today India’s sovereign credit rating at BBB-, with a stable outlook, citing expectations that the country’s GDP growth would speed up this fiscal year to 7.7%. Recapping the benchmarks, the Nifty 50 ticked up 0.23% to 8,528.55, while the BSE Sensex edged up 0.15% to 27,787.62.In the currency market, by 11:44 GMT the USD/INR pair ticked up 0.02% to 67.151, while the EUR/INR eased 0.12% to 74.2610. The 10-year government bond yield, in turn, fell 0.29% to 7.273%. On the corporate front, Hindustan Unilever, the Indian division of the world’s biggest consumer goods company, gave up 2.91% as quarterly sales fell short of what most analysts had anticipated. Tuesday was also a bad day for technology company MindTree (-8.57%) as quarterly earnings declined and Credit Suisse downgraded the stock. Indian state-run lenders stood out among the day’s top advancers in anticipation of the regulator’s scheduled monetary intervention, with State Bank of India, PNB, Bank of India, Indian Overseas Bank and Syndicate Bank rising 0.37%, 0.83%, 0.9%, 1.27% and 0.96%, respectively. Technically, the BSE Sensex Index, while trading within an ascending wedge, continued to retreat from its upper line, while the Slow Stochastic Oscillator and RSI are on the bearish side. As a result, we expect the index to trade down over the next few sessions.