Indian equities saw marginal losses on Friday, July 7, taking their cue from other global markets. Investors took a breather amid concerns that the ECB may taper stimulus as shown in the minutes of the regulator’s latest policy meeting. In addition, trading was low-key ahead of the key US nonfarm jobs report, while Indian benchmarks garnered support from a corrective rebound in some stocks. Recapping the benchmarks, the Nifty 50 eased 0.09% to 9,665.80, and the BSE Sensex closed 0.03% lower at 31,360.63. By 10:33 GMT, the USD/INR currency pair slipped 0.16% to 64.628, and EUR/INR was 0.22% lower at 73.7745. The 10-year Indian government bond yield narrowed to 6.532%. In sectoral terms, FMCG, IT and banking names underperformed the broader market, while real estate, healthcare and energy stocks logged gains. Indian banks and financial companies took a beating. Specifically, Housing Development Finance and ICICI Bank pulled back 1.1% and 1.4%, respectively. Meanwhile, InterGlobe Aviation, the owner of IndiGo, rose 1.35% after its representative said that the company is interested in buying some, not all, of AirIndia’s businesses. To remind, the name declined earlier on news that the company was considering a takeover of entire AirIndia. Pharmaceutical player Lupin surged 3.3%, ending the week higher for the first time in the last five weeks. The daily chart shows that the BSE Sensex is trading within a rising band and has approached the upper line of Bollinger bands, while the Slow Stochastic Oscillator has entered overbought territory. Consequently, the benchmark holds limited downside potential at this point.