Key Indian stock indices landed in positive territory on Monday, April 16. Notably, only the Nifty IT (-0.18%), the Nifty PSU Bank (-0.28%) and the Nifty Realty (-1.0%) closed in the red. Upbeat sentiment was sparked by an encouraging start to the corporate earnings season as well as reports that the monsoon season will boost GDP growth this year. As a results, local benchmarks reached new highs today. Recapping the benchmarks, the Nifty 50 advanced 0.83% to 11,787.15, and the BSE Sensex added 0.95% to 39,275.64. By 10:37 GMT, USD/INR firmed 0.27% to 69.636, while EUR/INR traded up 0.29% to 78.6735. The 10-year Indian government bond yield stood at 7.401%. ICICI Bank surged 3.63% as equity analysts at Goldman Sachs raised their target price for the stock to INR 492 from INR 451. The operators of airline SpiceJet shot up 11.2% on reports that it plans to add five Bombardier Q400 planes to its fleet. Among the underperformers, Wipro shed 2.36% after saying it has launched an investigation into alleged unauthorized access to customer accounts due to network fraud. The worst performers on the Nifty 50 also included Cipla, GAIL, Tata Motors and Power Grid, which gave up 1.35%, 0.69%, 0.56% and 0.08%, respectively. The daily chart shows that a bullish flag pattern has shaped up on the BSE Sensex. Consequently, the uptrend will likely gain traction in the short term.