Indian trading closed in the red on Monday, September 12, on expectations that the Federal Reserve may raise interest rates as soon as at the September meeting.Investors are advised today to watch for August's CPI and the Industrial Production for July. We expect the former to rise 5.5% y-o-y, and the later to advance 1.7% y-o-y.The Nifty 50 sagged 1.7% to 8,715.60, while the BSE Sensex 30 shed 1.54% to 28,353.54.On the Nifty 50, Infosys and Tech Mahindra outperformed the broader market, gaining over 1.2%. On the other side of the spectrum, Hindalco Industries, Bank of Baroda, and Yes Bank shed 5.5%.As regards the BSE Sensex 30, Infosys, Reliance Industries and Tata Consultancy led the advancers. Record losses were seen in Hindalco Industries, Vedanta, and Tata Steel.In the currency market, the USD/INR pair inched up 0.03% to 66.94, while EUR/INR firmed 0.23% to 75.07. The 10-yeargovernmentbondyieldincreased 0.37% to 7.085 %. Lanco Infratech dropped 5.21% as after reporting a bigger quarterly loss of INR 448.88 mn.Axsi Bank and port operator Adani Ports & Special Economic Zone stood out among the underperformers.Lender Yes Bank slipped 5.57%, sinking about 15% over the past four trading sessions.Indian company Reliance Defence & Engineering tanked 14.7% after reporting a first-quarter loss.India's Housing Development & Infrastructure eased 0.82% after reporting a 30% drop in 1Q earnings.From a technical standpoint, the BSE Sensex 30 is trading within a rising band. Stochastic lines are in overbought territory and sell-friendly, so a downturn towards 27,750 is likely.