Indian stock indices ended lower on Monday, September 25, retreating for the second straight session. Corrective sentiment prevailed on the back of downbeat trading in Asian markets and Merkel’s “disappointing victory” in the German parliamentary election. In addition, the bulls priced in the recent data about a poorer grain harvest this season due to challenging weather conditions. By the close, the Nifty 50 slipped 0.92% to 9,872.60, and the BSE Sensex receded 0.93% to 31,626.63. In the blue-chip universe, Tata Power, Coal India and Zee Entertainment outperformed the broader market, while the session’s outliers included Adani, ACC and Aurobindo Pharma. The USD/INR pair firmed 0.37% to 65.145. The 10-year Indian government bond yield narrowed 0.73% to 6.619%. Pharmaceutical player Novartis India plummeted 6.7% although it announced a share buyback program. Retailer Shoppers Stop skyrocketed 19.7% on news that Amazon acquired a 5% equity stake in the company. From a technical standpoint, the daily chart shows that the BSE Sensex has approached the support line at 31,410. Consequently, the benchmark holds limited downside in the short term.