India’s equity market closed in the green on Tuesday, July 17, amid rising O&G names and airline stocks. In addition, investors focused on earnings reports. Recapping the benchmarks, the Nifty 50 advanced 0.65% to 11,008.05, while the BSE Sensex closed 0.54% higher at 36,519.96. By 10:35 GMT, the USD/INR currency pair dropped 0.12% to 68.405, while EUR/INR traded down 0.12% to 80.1840. The 10-year government bond yield stood at 7.735%. As noted above, O&G names outperformed the broader market, with Nifty Energy rising 1.66%. Hindustan Petroleum, Indian Oil and Bharat Petroleum added 6.41%, 4.41% and 2.73% to their market caps. Meanwhile, India’s airline stocks were also well bid, with Interglobe Aviation and SpiceJet advancing 1.47% and 0.45%, respectively. Among the worst performers on the Nifty 50, Hindustan Unilever, Bharti Airtel, Dr.Reddy’s Laboratories and Tech Mahindra plunged 3.61%, 1.4%, 1.14% and 1.11%. The daily chart shows that the BSE Sensex has retraced within the Bollinger Bands, while repeatedly breaking out of the upper end of this indicator. The Slow Stochastic Oscillator has been in overbought territory. In view of the above, the benchmark may head towards the lower end of the band, with a breakout to the downside.