Indian stock indices turned in negative performance on Thursday, June 21, coming under pressure after minutes were released from the Reserve Bank of India’s latest meeting, according to which the regulator may hike rates again by year end on the back of concerns about rising consumer prices. Moreover, any upside was capped by the ongoing US-China trade war. By the close, the Nifty 50 ticked down 0.29% to 10,741.10, and the BSE Sensex 30 was 0.32% lower at 35,432.39. On the Nifty 50, ICICI Bank and Reliance Industries outperformed the broader market, advancing 1.3% and 1.09%, respectively. Mahindra & Mahindra and Power Grid were out of luck, sliding 2.28% and 1.80%. Indian Oil and Bharat Petroleum stood out among the BSE Sensex 30 advancers surging 4.02% and 3.73%. Mahindra & Mahindra and Bharti Airtel took a hit, closing 2.36% and 2.23% lower. On the currency market, the USD/INR pair firmed 0.16% to 68.15, and EUR/INR eased 0.34% to 78.51. The 10-year Indian government bond yield reached 7.778%. Pharmaceutical player Dr. Reddy's Laboratories underperformed, slipping over 2.1%. Tobacco maker ITC receded 1.18%, extending losses into the second straight session. Meanwhile, power utility Reliance Industries rose 1.09% to a new 12-month high. Pipe manufacturer Jindal Saw came under pressure, falling to a 10-month low on news that the US Department of Commerce imposed preliminary import duties of up to 500% for welded pipes from a number of countries, including India. From a technical standpoint, the BSE Sensex 30 is hovering slightly above 35,400, while stochastic lines are sell-friendly at this point. As a result, the corrective movement will likely be extended towards the 35,000 mark in the short term.