India’s stock market logged gains on Friday, July 20, propelled by rising IT names amid a noticeable pullback in the rupee. Risk appetite is limited as an issue of no-confidence vote against the ruling bloc led by Prime Minister Narendra Modi was considered today. However, worries are not as serious as they could be, since the likelihood of the vote being passed is slim. Recapping the benchmarks, the Nifty 50 advanced 0.48% to 11,010.20, while the BSE Sensex closed 0.40% higher at 36,496.37. By 10:49 GMT, the USD/INR pair traded up 0.03% to 68.965, while EUR/INR eased 0.05% to 80.3140. The 10-year government bond yield widened to 7.791%. As noted above, tech names enjoyed the strongest demand, with Infosys and HCL Technologies rising 2.1% and 1.7%, respectively. Meanwhile, software provider Wipro shed 1.0% ahead of the release of quarterly earnings. Bajaj Finance spiked 8.0% as analysts from Jefferies upgraded its target price, citing stable fundamental growth factors. At the same time, Bajaj Finserv, a member of Bajaj group, soared 5.8% due to a 41% increase in profit in the first fiscal quarter. The daily chart shows that the BSE Sensex has been consolidating near the upper end of a rising wedge, while the Slow Stochastic Oscillator is set to leave overbought territory. As a result, the benchmark may head towards the lower end of the formation. $SENSEX, S&P BSE SENSEX INDEX / D