The Indian stock market landed in negative territory on Tuesday, December 12, with energy and banking names underperforming. Notably, India’s CPI as well as industrial and manufacturing output data are due out after the bell today, at 12:00 GMT. Recapping the benchmarks, the Nifty 50 dropped 0.80% to 10,240.15, and the BSE Sensex eased 0.68%, settling at 33,227.99. By 10:40 GMT, the USD/INR currency pair firmed 0.12% to 64.435, while EUR/INR added 0.16% to 75.8568. The 10-year Indian government bond yield stood at 7.218%. As noted above, banking names took a hit after a multi-session rally. In particular, ICICI Bank, Bank of Baroda and State Bank of India gave up 1.08%, 1.40% and 0.13%, respectively. In the O&G sector, Hindustan Petroleum Corporation, Bharat Petroleum and Indian Oil plunged 4.07%, 3.02% and 2.03%, respectively. Conversely, oil refining players were well bid as oil prices rebounded. Specifically, Reliance Industries and Oil and Natural Gas Corporation added 0.17% and 2.77%. The daily chart shows that the BSE Sensex is trading within a rising wedge, with the RSI having turned south. Consequently, the benchmark can be expected to head towards the lower end of the formation in the short term.