The Indian stock market extended the downtrend on Wednesday, November 15 on the back of profit-taking and losses in the consumer and metals sectors. Notably, the session’s outperformers included oil refining companies, which logged gains amid declining oil prices. Recapping the benchmarks, the Nifty 50 slid 0.67% to 10,118.05, and the BSE Sensex retreated 0.55%, settling at 32,760.44. By 10:35 GMT, the USD/INR currency pair slipped 0.28% to 65.235, while EUR/INR firmed 0.06% to 77.2202. The 10-year Indian government bond yield stood at 7.028%. As noted above, the oil refining segment outperformed the broader market, with Bharat Petroleum, Hindustan Petroleum and Indian Oil adding 2.36%, 0.63% and 0.66%, respectively. Meanwhile, metals players Vedanta and Hindalco Industries plunged 4.35% and 3.51%. Among the outliers, Sun Pharmaceutical Industries retreated 4.1% after reporting a 59% y-o-y decline in profit for the last quarter ended in September. The daily chart shows that the BSE Sensex is trading slightly above the support line at 32,660 band, while the Slow Stochastic Oscillator has approached oversold territory. As a result, the benchmark can be expected to correct higher in the short term.