On Tuesday, May 17, Indian benchmarks closed higher, setting three-week highs on the back of gains in the banking sector and higher oil prices. The Nifty 50 ticked up 0.38% to 7,890.75, while the BSE Sensex 30 climbed 0.47% to 25,773.61. On the Nifty 50, Punjab National Bank, Eicher Motors and NTPC underperformed the broader market, each retreating over 1.5%. Oil&NaturalGas,AXISBankand Housing Development Finance paced the gains, each adding over 2.5%. On the BSE Sensex 30, NTPC andHindustanUnilever were out of luck, while Oil & Natural Gas, AXIS Bankand Housing Development Finance stood out among the advancers. On the currency market, USD/INR shed 0.14% to 66.818, while EUR/INR edged down 0.05% to 75.641. The 10-yearbondyieldtotaled 7.458%. Gas producer GAIL India picked up 1.74%, the most in the last two weeks. Axis Bank surged 3.47%, hitting a high since October 27. India’s largest mortgage lender Housing Development Finance increased 2.65%, landing in the green for the second session in a row. Motherson Sumi Systems spiked 8.40% after saying its net profit climbed 22% in the quarter ended March. Piramal Enterprises soared 4.9% after reporting net profit of Rs 180.24 crore. Sobha Developers was 0.51% higher on news it may announce a share repurchase program after the board of directors’ meeting due to be held on May 19. From a technical standpoint, the BSE Sensex 30 is consolidating within a range of 25,500-25,800. Stochastic lines are pointing north, and more upside is likely in the vicinity of 26,000.