India’s equity market closed in the green on Thursday, May 24 on the back of gains in tech names amid rupee depreciation. In addition, investors were digesting earnings reports from GAIL India, Tata Motors and Jet Airways. Recapping the benchmarks, the Nifty 50 advanced 0.80% to 10,513.85, while the BSE Sensex closed 0.93% higher at 34,663.11. By 10:35 GMT, the USD/INR pair traded up 0.09% to 68.345, while EUR/INR rose 0.19% to 80.1241. The 10-year government bond yield stood at 7.873%. As noted above, tech names enjoyed the strongest demand, with Infosys and Tata Consultancy Services surging 3.05% and 3.11%, respectively. Meanwhile, Tata Motors plunged 6.72% after its quarterly profit halved, totaling INR 21.75 bn (USD 319.5 mn) Jet Airways retreated 6.68% amid weak financial results in the past quarter. Among the underperformers, India’s largest natural gas processing and distribution company GAIL India slipped 4.16% amid lower-than-expected quarterly profit. The daily chart shows that the BSE Sensex has been hovering around the lower line of Bollinger Bands, while the Slow Stochastic Oscillator is in oversold territory and is set to exit it. In view of the above, upside is possible in the short term.