Key Indian stock indices delivered positive performance on Monday, December 9, following a strong US nonfarm payroll report released on Friday. However, bullish sentiment was capped by concerns about a slowdown in the Chinese economy following weak exports in November. The external backdrop was mixed as Asian stocks were on the rise, while European bourses were trading in the red. In sectoral terms, steelmakers and automotive names outperformed, while technology stocks took a beating. Recapping the benchmarks, the Nifty 50 added 0.13% to 11,937.50, and the BSE Sensex increased 0.10% to 40,487.43. By 10:25 GMT, the USD/INR currency pair eased 0.27% to 71.077, while EUR/INR edged down 0.17% to 78.6415. The 10-year Indian government bond was unchanged at 6.661%. As noted above, steelmakers enjoyed demand. In particular, JSW Steel, Tata Steel and Steel Authority of India (SAIL) climbed 1.9%, 0.9% and 3.0%, respectively. Also, automakers were well bid, with Maruti Suzuki adding 1.6%. Moreover, Zee Entertainment ended 1.4% higher. As noted above, technology stocks underperformed the broader market. In particular, Tech Mahindra and Tata Consultancy Services shed 0.9% and 3.0%, respectively. On the daily chart, the BSE Sensex recently breached the lower end of a rising band and is heading further south. Given where the Slow Stochastic Oscillator and the RSI are pointing, the benchmark holds downside potential in the short term.