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​India: optimism prevails

Key Indian markets landed in positive territory as software exporters surged on the back of a weakening rupee, and steelmakers also closed higher due to anti-dumping duties imposed on a number of imported goods.

The session's gainers included metal&mining, pharmaceutical, banking and high-tech stocks, while the automotive sector was out of lack.

The Nifty 50 closed 1.87% higher at 8,114.30, and the Sensex BSE advanced 1.76% to 26,316.34.

By 11:00 GMT, the USD/INR currency pair fell 0.43% to 68.465, and EUR/INR eased 0.02% to 72.5450. The 10-year Indian government bond yield narrowed to 6.185%.

As noted above, software exporters outperformed the broader market, with Infosys and Tata Consultancy Services spiking 5.07% and 5.11%, respectively.

Meanwhile, Tata Steel climbed 2.66% after anti-dumping duties were imposed on a number of imported goods.

Indian budget carrier SpiceJet added 1.48% ahead of the release of fiscal 2Q financial results.

From a technical standpoint, after having bounced off the lower range of Bollinger Bands, the BSE Sensex moved back inside them, while the Slow Stochastic Oscillator and the RSI are bull-friendly. In light of the above, the benchmark still holds short-term upside potential.