Indian stock indices turned in positive performance on Tuesday, September 12, extending the uptrend for the fourth straight session on the back of gains in the banking and automotive sectors. Notably, industrial output data for July and the CPI for August are due out later this afternoon. We expect the former to come in at 1.2 y-o-y, and the latter to reach 3.2%. By the close, the Nifty 50 rose 0.87% to 10,093.05, and the BSE Sensex 30 was also 0.87% higher at 32,158.66. On the Nifty 50, Bharat Petroleum and GAIL outperformed the broader market, soaring 4.22% and 3.75%, respectively. IndusInd Bank and Wipro were out of luck, sliding 2.76% and 1.01%. GAIL and Tata Motors stood out among the BSE Sensex 30 gainers, advancing 3.97% and 3.36%, respectively. On the other side of the spectrum, Wipro and Hero MotoСorp shed 1.13% and 0.94%. On the currency market, the USD/INR pair firmed 0.03% to 64.005, and EUR/INR added 0.17% to 76.567. The 10-year bond yield reached 6.566%. IndusInd Bank dropped 2.76% on reports that it is in exclusive negotiations to take over microfinance company Bharat Financial Inclusion. Bank of Baroda and Axis Bank gained over 1%, while HDFC Bank ended in positive territory for the sixth session in a row. Tata Steel surged 3.08% on news that its European assets will soon merge with Germany’s ThyssenKrupp. From a technical standpoint, the BSE Sensex 30 continues to form a corrective rebound from the downtrend that broke out on August 1. Stochastic lines are buy-friendly, but have reached overbought territory, so upside potential is limited at this point. $SENSEX, S&P BSE SENSEX INDEX / H1