The Indian market turned in positive performance on Wednesday, January 17, with the BSE Sensex crossing the 35,000 mark for the first time. The Nifty 50 also hit a new high. Notably, indexes drew support from gains in banking and high-tech names. Recapping the benchmarks, the Nifty 50 advanced 0.82% to 10,788.55, and the BSE Sensex rose 0.89% to 35,081.82. By 10:50 GMT, the USD/INR currency pair slipped 0.18% to 63.885, while EUR/INR dropped 0.42% to 78.1647. The 10-year government bond yield reached 7.426% High-tech stocks stood out among the best performers, with Infosys and Tata Consultancy Services advancing 2.24% and 1.55%, respectively. Meanwhile, banking names were also well bid. ICICI Bank, State Bank of India and Axis Bank surged 2.77%, 4.04% and 4.37%, respectively. Among the underperformers, Multi Commodity Exchange of India sank 4.92%, after the company reported a 45% decline in consolidated net profit last quarter. The daily chart shows that the BSE Sensex has repeatedly broken through the upper end of the Bollinger Bands, while the Slow Stochastic Oscillator and the RSI have been in the overbought territory for a long time. In view of the above, a downturn can be expected in the short term.