Key Indian benchmarks logged gains on Monday, October 15, after trading in the red at the beginning of the session. The stock market drew support from IT names, rising amid a weaker rupee. As regards macro data, the WPI expanded 5.13% in September vs. +4.90% expected, following a 4.53% increase in the previous month. Recapping the indices, the Nifty 50 climbed 0.38% to 10,512.50, while the BSE Sensex closed 0.38% higher at 34,865.10. By 10:55 GMT, the USD/INR currency pair was 0.21% higher at 73.843, while EUR/INR firmed 0.67% to 85.6635. The 10-year government bond yield narrowed to 7.939%. As noted above, IT names enjoyed the strongest demand, with Infosys and Tata Consultancy Services gaining 3.0% and 1.6%, respectively. Pharmaceutical stocks were also well bid amid depreciating of the national currency. In the upshot, Dr. Reddy’s Laboratories soared 4.8%. Consumer stocks underperformed on downbeat earnings forecast of analysts. Hindustan Unilever and Avenue Supermarts lost 2.8% and 5.8%, respectively. Financial names also stood out among the decliners, with ICICI Bank and Axis Bank falling 1.9% and 1.4%. The daily chart shows that the BSE Sensex has bounced off the lower end of Bollinger Bands, while the Slow Stochastic Oscillator and the RSI are set to exit oversold territory. In view of the above, the benchmark could extend its ascent in the short term. $SENSEX, S&P BSE SENSEX INDEX / D