The Indian stock market landed in positive territory on Wednesday, July 23 ahead of the Jackson Hole symposium. Upbeat sentiment was stoked by gains in the European and US markets. Banking and real estate names outperformed the broader market, while high-tech equities were out of favor. Recapping the benchmarks, the Nifty 50 advanced 0.89% to 9,852.50, and the BSE Sensex closed up 0.88% at 31,568.01. By 10:45 GMT, the USD/INR currency pair ticked up 0.09% to 64.120, while EUR/INR added 0.24% to 75.5431. The 10-year Indian government bond yield stood at 6.531%. As noted above, banking names outperformed the broader market. In particular, ICICI Bank, State Bank of India and Allahabad Bank picked up 1.58%, 1.86% and 4.68%, respectively. Real estate developer DLF soared 6.08% on news that the country’s regulators are looking into the potential deal, whereby the company is planning to sell its convertible preferred shares to independent Singapore-based fund GIC. Hospital chain Fortis Healthcare spiked 7.81% as Goldman Sachs analysts upgraded the name to Buy. The session’s outliers included high-tech stocks, with Tech Mahindra and Wipro receding 2.08% and 0.1%, respectively. However, Infosys logged gains, rebounding 1.99%, for the first time over the last four sessions. The daily chart shows that the BSE Sensex is trading below the resistance level at 31,920-31,940, while the RSI is pointing north, with the Slow Stochastic Oscillator just about to exit oversold territory. In our view, the benchmark is likely to head higher and test the said level the short term.