India’s stock market logged moderate gains on Friday, December 14, though indices were trading in the red at the beginning of the session, correcting lower after yesterday’s rally. Benchmarks drew support from gains in several companies, including Infosys (+1.2%) and Bharti Airtel (+5.3%). Notably, market players await the outcome of the meeting of India’s central bank. Notably, the meeting is headed by Shaktikanta Das, the regulator’s new Chairman, who was appointed several days ago. The news flow was negative, as Asian indices trended predominantly lower, while European indices have been traded in negative territory. Recapping the indices, the Nifty 50 firmed 0.13% to 10,805.45, while the BSE Sensex closed 0.09% higher at 35,962.93. By 10:51 GMT, the USD/INR currency pair advanced 0.43% to 71.856, while EUR/INR eased 0.09% to 81.1470. The 10-year government bond yield widened to 7.444%. Financial names stood out among the session’s underperformers. Kotak Mahindra Bank, Housing Development Finance Corporation and HDFC Bank dropped 0.7%, 2.0% and 0.3%, respectively. Among the worst performers, Fortis Healthcare tanked 14.3% on reports that the Supreme Court of India had ordered status quo on the sale of the company to IHH Healthcare. Meanwhile, Indian Oil Corp added 2.8% after approving a buyback program worth INR 44.35 bn (USD 620.9 mn). The daily chart shows that the BSE Sensex has traded near the upper end of Bollinger Bands and the resistance level at 36,466, while the Slow Stochastic Oscillator has approached overbought territory. As a result, further upside potential is limited in the short term. $SENSEX, S&P BSE SENSEX INDEX / D