Indian stock indices landed in positive territory on Wednesday, March 13 as traders continued to price in the results of a recent survey, showing that the country’s governing party will gain the upper hand in the upcoming parliamentary election scheduled for April 11. Notable underperformers included airline operators, which took their cue from earlier losses in Boeing shares. On the other side of the spectrum, banking names were on the move, with the Nifty PSU Bank ending 1.64% higher on the day. Recapping the benchmarks, the Nifty 50 advanced 0.36% to 11,341.70, and the BSE Sensex rose 0.58% to 37,752.17. By 10:40 GMT, the USD/INR pair eased 0.09% to 69.495, while EUR/INR slipped 0.09% to 78.4970. The 10-year Indian government bond yield stood at 7.547%. As regards airline operators, Jet Airways and SpiceJet shed 1.67% and 2.10%, respectively. Furthermore, pharma and media stocks underperformed the broader market. Specifically, Lupin, Sun Pharma and Biocon plunged 4.45%, 3.13% and 3.93%, while Dish TV India, Zee Entertainment and Eros Media pulled back 2.71%, 3.41% and 2.58%, respectively. As noted above, the session’s frontrunners included banking stocks. In particular, State Bank of India, Canara Bank, Syndicate Bank and Bank of Baroda rose 2.42%, 2.65%, 1.17% and 0.10%, respectively. The daily chart shows that the BSE Sensex has repeatedly broken through the upper line of Bollinger bands, while the Slow Stochastic Oscillator has long been in overbought territory. Accordingly, a corrective downturn could be in the offing.