India’s stock market saw positive performance on Friday, May 25 as market participants focused on earnings reports. Bank names, which saw gains as the rupee rose against the dollar by the end of the day, enjoyed the strongest demand. Recapping the benchmarks, the Nifty 50 advanced 0.87% to 10,605.15, while the BSE Sensex closed 0.76% higher at 34,924.87. By 10:49 GMT, the USD/INR pair traded down 0.69% to 67.795, while EUR/INR dropped 0.83% to 79.4279. The 10-year government bond yield narrowed to 7.813%. As noted above, lenders outperformed the broader market, with HDFC Bank and Kotak Mahindra Bank rising 1.1% and 1.8%, respectively. Meanwhile, Multi Commodity Exchange spiked 13.9% on news about a merger with NSE. At the same time, producers of alcoholic beverages United Breweries and United Spirits advanced 0.5% and 4.2% after releasing strong financial results for the past quarter. Natural gas processing and distribution company GAIL (India) surged 3.1% on strong quarterly earnings, quadrupling net profit. The daily chart shows that the BSE Sensex has bounced off the lower end of Bollinger Bands, while the Slow Stochastic Oscillator is set to exit oversold territory. As a result, further upside is possible in the short term. $SENSEX, S&P BSE SENSEX INDEX / D