Key Indian stock indices delivered positive performance on Tuesday, July 16, with automakers and commodity producers leading the gains. However, upside was capped by losses in IT stocks. Moreover, traders are looking ahead to the US corporate earnings season as well as US retail sales and industrial production data for June. The external news flow was mixed as Asian benchmarks ended range-bound, while European stocks were on the rise. Recapping the benchmarks, the Nifty 50 advanced 0.64% to 11,662.60, and the BSE Sensex firmed 0.60% to 39,131.04. By 10:24 GMT, the USD/INR currency pair firmed 0.29% to 68.740, while EUR/INR edged down 0.01% to 77.1500. The 10-year Indian government bond yield narrowed to 6.334%. The session’s outperformers included automaker Tata Motors, steelmaker Tata Steel and Oil and Natural Gas, which advanced 5.6%, 1.8% and 1.0%, respectively. In the finance services sector, troubled lender Dewan Housing Finance Corporation (DHFL) spiked 4.3%, correcting higher after a sharp decline, while Indiabulls Housing Finance added 1.2%. As noted above, IT stocks underperformed the broader market. Specifically, Tata Consultancy Services shed 1.9%. The daily chart shows that the BSE Sensex is trading near the lower line of Bollinger Bands, while the Slow Stochastic Oscillator is about to exit overbought territory. As a result, the uptrend will likely gain traction in the short term. $SENSEX, S&P BSE SENSEX INDEX / D