On Thursday, July 21, Indian equities finished the trading session in negative territory after the release of several earnings reports and ahead of the ECB meeting. As for the benchmarks, the Nifty 50 Index shed 0.65% to 8,510.10, and the BSE Sensex 30 Index dipped 0.74% to 27,710.52.The Nifty 50’s top advancers were led by ACC and UltraTech Cement (up over 2%), while Power Grid, Bank of Baroda, and AXIS Bank topped the decliners (off more than 3.3%). The BSE Sensex 30’s worst performers were Vedanta, Bharat Heavy Electricals, and AXIS Bank, while Wipro, Coal India, and Bharat Airtel emerged as the standout advancers.In the currency market, USD/INR ticked up 0.08% to 67.215, while the EUR/INR rose 0.06% to 74.03. The 10-year government bond yield reached 7.273%. On the corporate front, HDFC Bank was down 0.29% despite a 20.2% upsurge in quarterly profit. Shares of tobacco producer ITC rose 0.14%, extending gains to the sixth straight session ahead of the release of its quarterly financials. Meanwhile, the stock hit a fresh high since July 1. In the bull camp, Hindustan Petroleum shares surged 3.47% to a new all-time high after a report the company intends to issue bonus shares.Axis Bank shares declined for the third session in a row, while Larsen & Toubro gave up 0.85%.Shares of oil producers Indian Oil and Bharat Petroleum reached new highs. Hindustan Zinc shares eased 0.28% as its quarterly earnings reached Rs. 1,036 crore compared to Rs. 1,940.14 crore a year ago. From a technical standpoint, the BSE Sensex 30 Index is trading within an ascending wedge, with price action seen near its upper bound at 28,000. Stochastic lines are pointing south and in overbought territory, so the index is expected to see corrective movement towards 26,600-26,800.