Indian stock indices turned in negative performance on Thursday, July 20 as a number of companies released worse-than-expected quarterly earnings. Notably, data on the country’s foreign exchange reserves and lending are due out later today. By the close, the Nifty 50 retreated 0.27% to 9,873.3, and the BSE Sensex 30 was 0.16% lower at 31,904.4. On the Nifty 50, Grasim Industries and AXIS Bank outperformed the broader market, surging 2.14% and 3.81%, respectively. Tata Steel and Bharti Infratel were out of luck, sliding 2.45% and 2.18%. Among the BSE Sensex 30 gainers, AXIS Bank and Oil & Natural Gas stood out, advancing 3.87% and 1.75%. On the other side of the spectrum, Tata Steel and NTPC dropped 2.64% and 1.22%, respectively. On the currency market, the USD/INR pair firmed 0.18% to 64.43, and EUR/INR dipped 0.14% to 74.141. The 10-year Indian government bond yield reached 6.44%. Wipro and Reliance Industries ended in the red ahead of earnings releases. Kotak Mahindra Bank shed 1.43% despite reporting that 1Q net income increased 23% on the back of higher interest income. Oil & Natural Gas added 1.75% on reports that it is planning to acquire a 51.1% equity stake in oil refining company Hindustan Petroleum. IT player Mindtree plunged 4.41% to the lowest mark since May 5 after showing that 1Q net income decreased 1.6%. Canara Bank plummeted 5.21% as 1Q net income fell short of expectations. From a technical standpoint, the BSE Sensex 30 is trading within a rising band, with the upper line at 32,000. Stochastic lines are sell-friendly at this point, meaning that a corrective movement is likely to shape up near the 31,200 mark in the short term.