India’s stock market logged losses on Monday, January 14, in sync with Asian trading floors, reacting negatively to weak data on China’s trade balance in December, thereby exacerbating concerns about a slowdown in the global economy. However, negative sentiment was partially offset by gains in IT names, led by Infosys, which raised its revenue forecast and announced a share buyback. Recapping the benchmarks, the Nifty 50 eased 0.53% to 10,737.60, while the BSE Sensex closed 0.43% lower at 35,853.56. By 10:19 GMT, the USD/INR currency pair traded up 0.58% to 70.755, while EUR/INR firmed 0.44% to 81.0465. Meanwhile, the 10-year government bond yield narrowed to 7.428%. As noted above, IT stock Infosys were in favor. Another representative of the sector Tata Consultancy Services dropped 1.5%, extending last week’s losses. Financial names underperformed. Housing Development Finance Corporation, Axis Bank and ICICI Bank declined 1.1%, 1.1% and 1.4%, respectively. Furthermore, supermarket operator Avenue Supermarts piled up heavy losses, sinking 11.0% amid weak quarterly financial results. The daily chart shows that the BSE Sensex is heading south, while the Slow Stochastic Oscillator is in overbought territory. In view of the above, the benchmark may extend its descent. $SENSEX, S&P BSE SENSEX INDEX / D