Indian stock indices ended moderately lower on Friday, September 21, erasing earlier gains. Notably, after a holiday on local stock exchanges due to national holiday Ashura, markets kicked off higher today. Benchmarks drew support in early trading from easing risk-off sentiment on the back of milder-than expected tariffs on US and Chinese imports, raising hopes that the trade conflict might be settled in the not-too-distant future. However, bearish sentiment eventually prevailed as investors took profit ahead of the weekend, with mortgage lenders taking the hardest hit. By the close, the Nifty 50 receded 0.81% to 11,143.10, and the BSE Sensex was 0.75% lower at 36,841.60. The USD/INR pair firmed 0.59% to 72.150. The 10-year Indian government bond yield widened 0.09% to 8.081%. In the blue-chip universe, Bharti Infratel, Bharat Infratel, Indian Oil and Hindustan Petroleum outperformed, adding over 2%. On the other side of the ledger, Yes Bank, Indiabulls, Bajaj Finance and Tech Mahindra shed over 3%. Notably, Yes Bank tanked 29% as the country’s central bank slashed the CEO’s term to four months, raising investor concerns. As noted above, mortgage lenders took a beating on the heels of rumors and speculations coming from an unidentified source. In particular, Indiabulls Housing Finance and Dewan closed 34% and 44.8% lower. From a technical standpoint, the daily candlestick chart shows that a three black crows pattern has shaped up on the BSE Sensex, signaling the likelihood of a bearish trend ahead.