Key Indian stock indices landed in positive territory on Tuesday, March 24, drawing support from the new stimulus programs announced by the Federal Reserve. In particular, the US central bank will purchase an unlimited amount of US Treasuries and mortgage-backed securities. In sectoral terms on the Nifty 50, only real estate names ended in the red, while technology stocks posted the biggest gains. By the close, the Nifty 50 advanced 2.51% to 7,801.05, and the BSE Sensex firmed 2.67% to 26,674.03. By 10:55 GMT, the USD/INR pair eased 0.31% to 76.080, while EUR/INR climbed 1.12% to 82.7370. The 10-year Indian government bond yield decreased 0.92% to 6.330%. As noted above, the technology sector outperformed the broader market. Specifically, NIIT Technologies, Infosys, MindTree, Tata Consultancy, Tech Mahindra and Wipro soared 25.0%, 13.97%, 5.33%, 1.81%, 2.22% and 4.76%, respectively. Furthermore, consumer product makers were well bid. In the upshot, Hindustan Unilever, Tata Consumer Products and Nestle India surged 7.56%, 12.34% and 5.37%, respectively. Indian airline operators took a pummeling on news that the country’s government halted domestic air travel indefinitely. Consequently, SpiceJet shed 3.28% on the day. On the daily chart, the BSE Sensex continues to trade within a descending channel, while the Slow Stochastic Oscillator and the RSI are hovering in oversold territory. As a result, the benchmark can be expected to head towards the upper line of the current formation in the short term.