India’s stock market posted moderate gains on Tuesday, August 14. India’s equity benchmarks were back on track today, snapping a two-day losing streak amid hopes for a resolution of the Turkish crisis. However, there are no direct reasons for optimism, as Trump's advisor warned the Turkish ambassador on Monday that there would be no negotiations until the arrested US pastor is released. However, investors relapsed into risk-on mode, buying into the stocks that were hardest hit during the previous sessions. News flow was positive, and India’s stock market drew additional support from Asian and European trading flows, which closed in the green. Recapping the benchmarks, the Nifty 50 advanced 0.70% to 11,435.10, while the BSE Sensex closed 0.55% higher at 37.852.00. The USD/INR currency pair eased 0.09% to 69.895. The 10-year government bond yield narrowed 0.09% to 7.816%. ICICI Bank, Yes Bank, AXIS Bank, Sun Pharma stood out among the best performers in the blue-chip universe, gaining over 2%. Underperformers included Hero MotoCorp, Larsen & Toubro, and Adani, shedding more than 1%. Pharmaceutical firm Sun Pharmaceutical Industries soared 6.7% after releasing a strong earnings report for the quarter ending June 30. Drilling contractor Jindal Drilling and Industries spiked 18.5% after reporting an 82% upsurge in quarterly profit. Air carrier SpiceJet retreated 0.9% on the company’s quarterly earnings report, which showed losses. From a technical standpoint, the daily chart shows that the Sensex has tested the lower end of a rising wedge. Should a breakout occur, the benchmark may correct lower.