India’s equity market turned in negative performance on Wednesday, April 25 amid profit taking on long positions. Notably, the US 10-year Treasury note yield exceeded 3%, dragging markets lower. Data on M3 money supply change will be released at the end of the day. Recapping the benchmarks, the Nifty 50 dropped 0.41% to 10,570.55, while the BSE Sensex 30 declined 0.33% to 34,501.27. Among the best performers on the Nifty 50, Bharti Airtel and Tata Consultancy advanced 2.9% and 2.37%, respectively. Among the underperformers, GAIL and Vedanta slid 3.09% and 2.99%. Among the top advancers on the BSE Sensex 30, Bharti Airtel and Tata Consultancy gained 2.93% and 2.26%. Among the worst performers, Tata Steel and ICICI Bank shed 1.92% and 1.90%, respectively. Meanwhile, the USD/INR currency pair traded up 0.52% to 66.76, while EUR/INR advanced 0.38% to 81.54. The 10-year government bond yield stood at 7.731%. Indian lenders underperformed the broader market, with HDFC Bank and ICICI Bank falling 0.7%. Telecommunications operator Bharti Airtel rose 2.90% on stronger-than-expected earnings in Q4. Metal names also came under pressure, with Vedanta and Hindalco Industries slipping 1.5%. Bajaj retreated 4% on weaker-than-expected quarterly earnings. From a technical standpoint, the BSE Sensex 30 has been consolidating in the 34,400-34,600 range. The benchmark has been completing a rebound. Stochastic lines have approached overbought territory and are sell-friendly. As a result, the benchmark may resume its descent.