Indian stocks were little changed on Friday, February 22. Optimism about the US-China trade talks was counterbalanced by worries about a global economic slowdown. Meanwhile, corporate news weighed on some major companies. The external news flow was patchy as Asian stocks traded sideways, and European names moved higher. By the final bell, the Nifty 50 ticked up 0.02% to 10,791.65, while the BSE Sensex edged down 0.07% to 35,871.48. By 10:58 GMT, USD/INR fell 0.03% to 71.175, and the EUR/INR pair rose 0.12% to 80.7345. Meanwhile, the 10-year government bond yield widened to 7.608%. In other corporate news, Indian lender Kotak Mahindra Bank sank 4% after media reports that Dutch insurer ING Group intends to sell some of the bank’s shares, i.e. a 1.21% stake, for INR 28 bn (USD 393.43 mn). Also on the minus side, Reliance Industries, a major component of the regional benchmarks which tends to influence overall market sentiment, gave up 1.2%. However, shares of Anil Ambani’s other Reliance companies advanced after the billionaire announced plans to take some money from his brother’s company and funds from the sale of assets to pay debt to Ericsson in accordance with the court order. Reliance Communications surged 2.4%. The daily chart shows that the BSE Sensex has bounced off the lower line of Bollinger Bands. Meanwhile, the Slow Stochastic Oscillator is set to exit oversold territory, so short-term upside could be in the cards. $SENSEX, S&P BSE SENSEX INDEX / D