Indian stock indices turned in positive performance on Thursday, July 6 as banking names rose on expectations of upbeat quarterly earnings. Key macro data included the country’s services PMI, which came in at 53.1 in June vs. 52.2 in the previous month. By the close, the Nifty 50 increased 0.38% to 9,674.55, and the BSE Sensex 30 was 0.40% higher at 31,369.34. On the Nifty 50, Bharti Infratel and SBI outperformed the broader market, surging 2.96% and 2.22%, respectively. Bajaj Auto and Grasim Industries were out of luck, sliding 1.54% and 1.41%. Among the BSE Sensex 30 gainers, ITC and SBI stood out, advancing 1.72% and 2.15%. On the downside, Bajaj Auto and Mahindra&Mahindra dipped 1.52% and 1.30%, respectively. On the currency market, the USD/INR pair ticked down 0.01% to 64.785, and EUR/INR added 0.08% to 73.625. The 10-year bond yield reached 6.517%. Tobacco maker ITC rose 1.72% on the back of expectations that it will be a key beneficiary of GST implementation. In the banking sector, Punjab National Bank advanced 4.9% as Nomura analysts upgraded the name to Buy from Hold, while Canara Bank and Syndicate Bank gained over 3%. From a technical standpoint, the BSE Sensex 30 is trading within a rising band, with the Slow Stochastic Oscillator on the buy side at this point. This means that the benchmark still holds upside potential.