The Indian stock market landed in positive territory again on Monday, December 11, with banking and high-tech names outperforming. Just like on Friday, the market drew support from expectations that the Bharatiya Janata Party, an Indian nationalist party led by Narendra Modi, will score a victory in the Gujarat election that kicked off over the weekend. Moreover, investors priced in upbeat sentiment in US markets and positive macro data out of China. Recapping the benchmarks, the Nifty 50 advanced 0.55% to 10,322.25, and the BSE Sensex closed up 0.62% at 33,455.79. By 10:45 GMT, the USD/INR currency pair slipped 0.19% to 64.365, while EUR/INR firmed 0.05% to 75.8990. The 10-year Indian government bond yield stood at 7.118%. As noted above, banking names were among the session’s outperformers. Specifically, State Bank of India, Axis Bank, ICICI Bank and HDFC Bank picked up 1.58%, 0.37%, 0.48% and 0.33%, respectively. Meanwhile, real estate developer Unitech soared 9.59% on news that an Indian court ruled in favor of the government’s decision to take over administrative control of the company. The daily chart shows that the BSE Sensex is hovering slightly below the resistance level in the vicinity of 33,780, while the Slow Stochastic Oscillator is bull-friendly at this point. As a result, the benchmark can be expected to test this level in the short term.