Indian stock indices turned in positive performance on Tuesday, October 15, as investors continued to digest yesterday’s CPI data, which could undermine expectations for a rate cut at the central bank’s next meeting. To remind, the September CPI came in at 3.99% y-o-y, up from 3.28% y-o-y a month earlier, reaching a 14-month high, while analysts, on average, expected 3.70% y-o-y. Notably, data on the country’s trade surplus is due out later today. By the end of the session, the Nifty 50 increased 0.77% to 11,428.30, and the BSE Sensex 30 rose 0.76% to 38,506.09. On the BSE Sensex 30, Vedanta and Oil & Natural Gas outperformed the broader market, surging 4.02% and 2.66%, respectively. Bharti Airtel and Infosys were out of favor, sliding 2.60% and 2.12%. Among the Nifty 50 gainers, Eicher Motors and Vedanta stood out, spiking 4.69% and 4.03%. On the other side of the spectrum, Bharti Airtel and Infosys retreated 2.83% and 2.18%. On the currency market, the USD/INR pair firmed 0.33% to 71.46, and EUR/INR added 0.18% to 78.69. The 10-year bond yield reached 6.664%. In the financial services sector, Yes Bank picked up 2.6% after saying it sold its 6.56% equity stake in Fortis Healthcare on the open market. Bandhan Bank soared 7.4% on news that the stock was included in the MSCI Index. Conversely, Indiabulls Housing Finance slipped 5% as it seeks confirmation from the Securities and Exchange Board of India about its eligibility to buy back shares given the regulations on the optimal capital structure. From a technical standpoint, the BSE Sensex is forming an uptrend, heading towards the resistance level at 39,441. Meanwhile, the Slow Stochastic Oscillator is on the buy side, hovering far from overbought territory. As a result, the benchmark still holds upside potential in the short term.