The Indian stock market showed negative performance on Wednesday, January 23 as risk aversion prevailed amid concerns about slowing global growth and the US-China trade dispute, which remains deadlocked. In sectoral terms, losses in financial and IT names outweighed gains in consumer stocks. Recapping the benchmarks, the Nifty 50 slipped 0.84% to 10,831.50, and the BSE Sensex closed 0.92% lower at 36,108.47. By 10:24 GMT, the USD/INR currency pair firmed 0.20% to 71.365, while EUR/INR traded up 0.11% to 81.0110. The 10-year Indian government bond yield widened to 7.585%. As noted above, IT stocks took a hit, with Infosys and Tata Consultancy shedding 1.8% and 1.4%, respectively. Lender Kotak Mahindra Bank corrected lower by 1.2% after a five-day winning streak. Zee Entertainment Enterprises outperformed the broader market, advancing 1.8%. ITC, Bharti Infratel and Interglobe Aviation pulled back 4.3%, 0.2% and 1.0%, respectively, ahead of quarterly earnings releases. The daily chart shows that the BSE Sensex is trading near the upper line of Bollinger bands, while the Slow Stochastic Oscillator is hovering in overbought territory. As a result, the benchmark will likely extend the downtrend in the short term. $SENSEX, S&P BSE SENSEX INDEX / D