Indian stock indices ended moderately lower on Wednesday, September 19, paring earlier gains. After a two-day decline, the Indian market rebounded in early trading on the back of overall positive sentiment on Asian markets. The latter, in turn, drew support from weaker-than-expected tariffs that the US and China imposed on each other’s imports. However, in the absence of other reasons for a rally, Indian benchmarks retreated into negative territory. By the close, the Nifty 50 receded 0.39% to 11,234.35, and the BSE Sensex was 0.45% lower at 37,121.22. The USD/INR pair weakened 0.30% to 72.495. The 10-year Indian government bond yield narrowed 0.74% to 8.08%. In the blue-chip universe, Bharat Petroleum, Coal India, GAIL and Tech Mahindra outperformed, adding over 2%. On the other side of the ledger, Bajaj Finance, Zee Entertainment and Maruti Suzuki shed over 1%. Tata Steel gained 1.4% on news that the Indian government plans to hike import tariffs on a number of steel products. Other industry players followed suit, with Jindal Steel surging 3.1%. Sugar suppliers were well bid on news that the Indian government is mulling stimulus to boost sugar exports. Specifically, Dhampur Sugar Mills and Uttam Sugar Mills soared 7.0 and 7.1%, respectively. From a technical standpoint, the daily chart shows that a mid-term rising trend remains uncompromised on the BSE Sensex, while the Slow Stochastic Oscillator is hovering in oversold territory. As a result, the benchmark can be expected to rebound upward in the short term.