Key Indian stock indices traded resolutely to the upside on Tuesday, March 12, bolstered, among other things, by news that foreign investment in Indian equities reached a 15-month high in February. Moreover, investors are increasingly hopeful that Prime Minister Narendra Modi’s political party will emerge victorious at the upcoming parliamentary election. Adding to upbeat sentiment was sharp appreciation of the Indian rupee. The external backdrop was supportive as Asian stock markets closed higher, while European equities were on the rise after news that the European Commission endorsed amendments to the proposed Brexit agreement ahead of a vote in the British House of Commons. Recapping the benchmarks, the Nifty 50 advanced 1.19% to 11,301.20, and the BSE Sensex rose 1.30% to 37,535.66. By 10:20 GMT, the USD/INR currency pair eased 010% to 69.650, while EUR/INR traded down 0.03% to 78.5410. The 10-year Indian government bond yield narrowed to 7.505%. Among the day’s top performers, heavyweights Reliance Industries, ICICI Bank and Larsen & Toubro stood out, adding 2.1%, 3.3% and 3.2%, respectively. The list of decliners included mobile operator Bharti Infratel, which shed 1.0% after saying that Bharti Airtel intends to nearly halve its equity stake in the company. From a technical standpoint, the daily chart shows that the BSE Sensex has broken through the upper line of Bollinger Bands, while the Slow Stochastic Oscillator is hovering in overbought territory. Consequently, a downturn could be in the offing.