India’s equity market logged gains for the first time in three sessions on Friday, June 29, propelled by rising financial and energy names. The news flow was positive, and most Asian markets landed in the green. US trading floors also trended higher. Recapping the benchmarks, the Nifty 50 rose 1.18% to 10,714.30, while the BSE Sensex was 1.10% higher at 35,423.48. By 10:35 GMT, the USD/INR pair traded down 0.31% to 68.585, while EUR/INR advanced 0.25% to 79.8340. The 10-year government bond yield stood at 7.913%. As noted above, energy names enjoyed the strongest demand, with Nifty Energy rising 2.57%. Bharat Petroleum, Reliance Industries, Indian Oil and GAIL added 2.19%, 2.91%, 1.1% and 6.48%, respectively. Meanwhile, steelmaker Tata Steel was well bid, surging 3.52% on news that that the company is close to striking an agreement with ThyssenKrupp on consolidation of European assets. Among the worst performers, Dr.Reddy’s Laboratories, IndusInd Bank, Tech Mahindra and Hero Motor plunged 2.64%, 1.53%, 1.32% and 1.21%, respectively. The daily chart shows that the BSE Sensex, while trading within a rising wedge, bounced off its lower bound. At the same, the Slow Stochastic Oscillator has been hovering near oversold territory. In view of the above, the benchmark may move towards the upper line of the formation.