Key Indian benchmarks declined marginally on Wednesday, November 14. A pullback in tech names amid strengthening in the rupee outweighed positivity from gains in oil refineries, which were propelled by falling oil prices. Recapping the benchmarks, the Nifty 50 dropped 0.06% to 10,576.30, while the BSE Sensex ticked down 0.01% to 35,141.99. By 10:46 GMT, the USD/INR currency pair traded down 0.07% to 72.275, while EUR/INR dipped 0.68% to 82.4400. The 10-year government bond yield narrowed to 7.736%. As noted above, IT names underperformed, retreating amid rising rupee. Infosys and Tata Consultancy Services fell 1.9% and 2.8%, respectively. Pharmaceutical company Sun Pharmaceutical Industries plunged 7.4% after reporting a quarterly loss, while analysts expected upbeat results. Meanwhile, oil refineries rose amid retreating oil prices. Hindustan Petroleum, Bharat Petroleum and Indian Oil surged 4.7%, 4.2% and 2.8%, respectively. Aviation stocks were well bid, with Interglobe Aviation spiking 7.5%. The daily chart shows that the BSE Sensex has been hovering around the upper end of Bollinger Bands, while the Slow Stochastic Oscillator has been in overbought territory. In view of the above, the benchmark may continue its descent in the short term. $SENSEX, S&P BSE SENSEX INDEX / D