Key Indian stock indices showed negative performance on Thursday, April 18, with real estate, banking and media names topping the decliners. On the Nifty 50, only energy stocks were on the rise, with the Nifty Energy closing 0.82% in the green. Notably, the local market came under pressure on news that Jet Airways suspended all flights due to the lack of funding. The company has reportedly accumulated over USD 1 bn in debt, with 23,000 employees waiting for their backdated salaries to be paid. Indian bourses were offline on Wednesday in observance of a public holiday, while tomorrow will be another day off. Recapping the benchmarks, the Nifty 50 pulled back 0.29% to 11,752.80, and the BSE Sensex declined 0.34%, settling at 39,140.28. By 10:44 GMT, USD/INR firmed 0.28% to 69.603, while EUR/INR slid 0.15% to 78.2855. The 10-year Indian government bond yield stood at 7.426%. Jet Airways nosedived 31.1%, while its lenders State Bank of India and Punjab National Bank shed 1.76% and 3.02%, respectively. Bank of Baroda, Syndicate Bank и Union Bank of India followed suit, retreating 3.71%, 2.88% and 2.17%, respectively. Conversely, rival SpiceJet added 2.36% on expectations that Jet Airways might be exiting the market. Energy heavyweight Reliance Industries surged 3.15% on news that state-controlled Saudi Aramco is in talks to acquire a 25% equity stake in the company’s oil refining and petrochemical division. The daily chart shows that the BSE Sensex has broken out of the upper line of Bollinger bands, while the Slow Stochastic Oscillator has approached overbought territory. As a result, a downward corrective movement could be in the offing.