Indian stock indices turned in positive performance on Thursday, December 19. However, upside potential was capped by the Indian government’s decision to keep the goods and service tax (GST) unchanged, while investors mostly expected a GST cut. Notably, minutes from the Indian central bank’s policy meeting are due out later today. By the close, the Nifty 50 advanced 0.31% to 12,259.80, and the BSE Sensex 30 increased 0.28% to 41,673.92. On the BSE Sensex 30, Yes Bank and Bharti Airtel outperformed the broader market, surging 6.42% and 2.83%, respectively. Vedanta and HDFC were out of favor, slipping 2.49% and 1.34%. Among the Nifty 50 gainers, Yes Bank and Eicher Motors stood out, up 6.52% and 3.05%. On the other side of the ledger, Vedanta and Adani pulled back 2.49% and 1.55%. On the FX market, the USD/INR pair firmed 0.21% to 71.34, and EUR/INR traded up 0.45% to 79.23. The 10-year Indian government bond yield reached 6.727%. Banking stocks outperformed the broader market, with Yes Bank and Syndicate Bank adding over 1.3%. IT stocks were well bid. In particular, HCL Technologies and Tata Consultancy Services picked up over 0.8%. Tata Group stocks traded higher on news that an Indian court reinstated Cyrus Mistry as chairman of Tata Sons. In the upshot, Tata Consultancy Services and Tata Motors gained over 1.2%. From a technical standpoint, the BSE Sensex 30 is trading within a rising wedge, with the upper line near 41,800. Meanwhile the Slow Stochastic Oscillator is on the buy side, but has reached overbought territory already. As a result, the current upward trend could be drawing to a close.