India’s stock market logged gains on Tuesday, January 15, amid weak December consumer inflation data released yesterday. As a result, the country’s central bank may soften its monetary policy next month. Notably, the CPI rose 2.19% y-o-y in December, compared to a 2.33% y-o-y increase in the previous month. This is the lowest reading since June 2017. Notably, data on India’s trade balance is due out in the second half of the day. Recapping the benchmarks, the Nifty 50 firmed 1.39% to 10,886.80, while the BSE Sensex 30 closed 1.30% higher at 36,318.33. Among the top gainers on the BSE Sensex 30, Yes Bank and Infosys surged 4.02% and 3.87%, respectively. On the other side of the spectrum, Maruti Suzuki and Power Grid lost 0.90% and 0.29%. Best performers on the Nifty 50 included Wipro and Yes Bank, which soared 5.49% and 4.07%. Maruti Suzuki and Power Grid underperformed, down 0.81% and 0.10%. In the currency market, the USD/INR advanced 0.38% to 71.05, while EUR/INR traded up 0.12% to 81.25. The 10-year government bond yield stood at 7.468%. India’s second-largest software provider Infosys rose 3.87, reaching the highest level since October 8, 2018. Bank names were well bid. Yes Bank and HDFC Bank added more than 0.6%. India’s third-largest software exporter Wipro spiked 5.49% after reporting on Friday that it will consider a proposal to issue additional shares. From a technical standpoint, the BSE Sensex 30 has formed a symmetrical triangle with the upper line near 36,220. Stochastic lines are buy-friendly, but have already reached overbought territory. As a result, upside potential is limited.