Indian stock indices corrected lower on Tuesday, October 31 after rallying to record highs in the previous session. Notably, India’s second largest software exporter Infosys ended sharply lower, trading ex-dividend today. In sectoral terms, financial and telecom names as well as durable and capital goods suppliers logged gains, while energy, industrial, metals, automotive and IT stocks underperformed the broader market. Recapping the benchmarks, the Nifty 50 eased 0.27% to 10,335.30, and the BSE Sensex closed 0.16% lower at 33,213.13. By 10:24 GMT, the USD/INR currency pair eased 0.17% to 64,747, while EUR/INR traded down 0.32% to 75.3168. The 10-year Indian government bond yield narrowed to 6.869%. As noted above, Infosys stood out among the session’s outliers, plunging 2.4% after the stock went ex-dividend. Regional lenders Axis Bank and Yes Bank pulled back 2.0% and 3.3%, respectively, after notching up strong gains in the previous session. Meanwhile, Axis Bank soared 8% on media reports that US investment firm Bain Capital is at an advanced stage of negotiations to invest up to USD 1 bn in the lender. The daily chart shows that the BSE Sensex has reversed to the downside after a doji candlestick pattern shaped up on the curve, while the Slow Stochastic Oscillator remains in overbought territory. Consequently, the downtrend will likely gain momentum in the short term. $SENSEX, S&P BSE SENSEX INDEX / D