On Thursday, April 7, Indian equities closed with the benchmarks seeing marginal losses. Indian stocks retreated to a 3-week low amid reassessment of trading ideas among investors after a strong rally last month. No macro data came out today. Indian issuers are expected to kick off earnings season next week, and so far investors in the Indian stock market see no incentives to buy stocks. Market participants are also concerned that insufficient precipitation during the rainy season this year could hurt the agricultural sector, the economy and the market. Notably, of 30 Sensex Index components slightly more than half published better-than-expected financials for Q4. Recappingthebenchmarks, theNifty 50 tumbled 0.89% to 7,546.45, whiletheBSESensexeased 0.86% to 24,685.42. In the blue-chip universe, Adani and Tata Power took the hardest hit (off over 3%). On the other side of the spectrum, Aurobindo Pharma, Dr Reddy’s, Lupin, and Coal India gained over 1%. The USD/INR pair ticked up 0.01% to 66.51, while the yield on 10-year Indian bond fell 0.08% to 7.456%. Some auto makers underperformed tangibly today, with Maruti Suzuki India, which turns out half of all vehicles marketed in India, pulled back 2.9%. NordidbanknamesfarebetterasICICIBankandSBIlostaround 1%. Technicallyspeaking, anascendingwedgecontinuestoshapeuponthedailychart, andacorrectivereboundisstillpossibleoverthenextfewsessions. $SENSEX, S&P BSE SENSEX INDEX / 1440