Indian stock indices corrected higher on Thursday, November 16 after retreating for the three previous sessions. Notably, gains were led by the oil refining segment, which rose as oil prices slid due to a build in US crude oil inventories. In sectoral terms, in addition to oil refining companies, energy, telecom, IT, automotive, technology and financial stocks traded higher. Recapping the benchmarks, the Nifty 50 advanced 0.96% to 10,214.75, and the BSE Sensex firmed 1.06% to 33,106.82. By 10:43 GMT, the USD/INR currency pair eased 0.09% to 65,253, while EUR/INR slipped 0.23% to 76.7908. The 10-year Indian government bond yield widened to 7.052%. As noted above, oil refineries were well bid, with Reliance Industries and Indian Oil picking up 2.3% and 0.9%, respectively. Financial names also enjoyed demand. Specifically, Housing Development Finance, ICICI Bank and HDFC added 0.7%, 1.1% and 0.4%, respectively. Meanwhile, Suzlon Energy slipped 1.5% on reports about suspended production and massive layoffs at its Karnataka facility. The daily chart shows that a bullish opening maribozu pattern has shaped up on the BSE Sensex, while the Slow Stochastic Oscillator is hovering near oversold territory. Consequently, the uptrend will likely be extended in the short term.