Key Indian stock indices landed in positive territory on Monday, July 13 ahead of the US quarterly earnings season. Moreover, local equities drew support from Biocon CEO Kiran Mazumdar Shaw’s remarks that the company obtained positive clinical trial results and secured local regulatory approval for its Covid-19 drug Itolizumab. Many doctors have reportedly used Itolizumab, which has helped over 150 coronavirus patients recover. Notably, India recorded 28,600 new confirmed Covid-19 cases on Monday morning, with the total number surpassing 849,500. Recapping the benchmarks, the Nifty 50 advanced 0.32% to 10,802.70, and the BSE Sensex added 0.27% to 36,693.69. By 10:20 GMT, USD/INR ticked up 0.01% to 75.197, and EUR/INR firmed 0.30% to 85.1830. The 10-year Indian government bond yield stood at 5.787%. In the blue-chip universe, Tech Mahindra, Hindalco Industries, HCL Tech, JSW Steel and Reliance Industries soared 5.54%, 3.79%, 3.74%, 3.26% and 3.23%, respectively. Notable decliners on the Nifty 50 included Power Grid, Bajaj Finance, HDFC Bank, ICICI Bank and Housing Development Finance Corporation, which plunged 2.20%, 2.10%, 1.95%, 1.72% and 1.72%. On the daily chart, the BSE Sensex is trading near the upper boundary of an ascending wedge as well as close to the upper end of Bollinger bands, while the Slow Stochastic Oscillator is hovering in overbought territory. As a result, a downturn could be in the offing.