Indian stock indices ended sharply lower on Friday, September 22 as risk aversion set in amid heightened geopolitical tension after the US and North Korean leaders traded threats. In addition, investors became concerned that the Indian government is planning a QE program, which would inevitably lead to a higher fiscal deficit. To remind, India’s Prime Minister said that the government is discussing ways to stimulate growth as it slowed down to a 36-month low last quarter. By the close, the Nifty 50 slipped 1.56% to 9,964.40, and the BSE Sensex dipped 1.38% to 31,922.44. In the blue-chip universe, Wipro, Tata Motors and HCL Tech outperformed the broader market, while the session’s outliers included Tata Steel, L&T and Hindalco. The USD/INR pair weakened 0.18% to 64.797. The 10-year Indian government bond yield widened 0.04% to 6.679%. The banking sector came under pressure, with ICICI Bank and the Bank of Baroda plunging 2.8% and 2.5%. Reliance Home Finance spiked 5% in its debut session. From a technical standpoint, the latest candlestick patterns and the Slow Stochastic Oscillator on the BSE Sensex daily chart show that the benchmark is likely to extend the downtrend in the short term.