Key Indian stock indices logged gains on Wednesday, January 29 on the back of upbeat earnings releases from several companies. Wutan virus news was placed on the back burner as equities on the Nifty 50 traded broadly higher. In sectoral terms, only pharmaceutical stocks ended slightly in the red, with the Nifty Pharma down 0.09% on the day, while metals, automotive and consumer names posted the biggest gains. Recapping the benchmarks, the Nifty 50 rose 0.61% to 12,129.50, and the BSE Sensex closed 0.57% higher at 41,198.66. By 10:41 GMT, USD/INR firmed 0.09% to 71.258, while EUR/INR dipped 0.08% to 78.3865. The 10-year Indian government bond yield stood at 6.569%. On the Nifty 50, the list of outperformers included Tata Motors, Bajaj Finance, Bharti Infratel, Bajaj Finserv and Nestle India, which advanced 6.81%, 5.06%, 3.35%, 3.04% and 2.86%, respectively. Tata Motors spiked as equity analysts at Edelweiss upgraded their target price for the stock, while Bajaj Finance tapped into a 52% upsurge in quarterly consolidated net income. Among the decliners, Prestige Estates Projects and Cholamandalam Financial Holdings retreated 2.05% and 1.38% despite reporting higher profits for the past quarter. On the daily chart, the BSE Sensex is trading within a rising band and has bounced off its lower end, while the Slow Stochastic Oscillator has approached oversold territory. As a result, the benchmark will likely head towards the upper line of the current formation in the short term.