Key Indian stock indices posted losses on Monday, November 12, with automakers and financial names leading the decline. Risk-off sentiment was driven by several factors, including concerns about the liquidity of non-bank financial institutions, the upcoming elections and the ongoing earnings season. Some of these factors were rather disappointing. Recapping the benchmarks, the Nifty 50 dropped 0.97% to 10,482.20, while the BSE Sensex closed 0.98% lower at 34,812.99. By 10:54 GMT, the USD/INR currency pair traded up 0.36% to 72.925, while EUR/INR eased marginally to 82.1545. The 10-year government bond yield widened to 7.810%. As noted above, automakers stood out among the session’s worst performers, with Tata Motors and Maruti Suzuki India plunging 4.7% and 2.7%, respectively. Financial names also underperformed, with State Bank of India, ICICI Bank and Yes Bank shedding 1.9%, 1.3% and 2.1%, respectively. Among the decliners, oil refining company Hindustan Petroleum sank 6.7% amid rising oil prices. IT names posted gains amid weakening rupee. Infosys and Tata Consultancy Services climbed 0.7% and 0.3%, respectively. The daily chart shows that the BSE Sensex has traded near 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