Nifty crosses 24,600 mark as IT stocks lead the rally

Key equity indices experienced limited growth in afternoon trading due to weaker-than-expected

inflation data from WPI, retail sales and the United States. The Nifty above 24,600 level IT

shares in demand in trading after experiencing a pullback in the previous session.

At 14: The S&P BSE Sensex barometer index increased by 9.68 points reaching 81,157.90 at 30

IST, marking a 0.01% gain. The Nifty 50 index gained 32.45 points which amounted to a 0.13%

rise bringing it to 24,610.05.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index

experienced a 1.01% increase while the S&P BSE Small-Cap index recorded a 1.39% rise.

The market breadth was strong. The Bombay Stock Exchange reported 2,678 shares rising while

1,229 shares fell during trading. A total of 159 shares were unchanged.

The near-term market volatility expectation measure of the NSE's India VIX fell by 5.34%

reaching 17.23.

According to government data released on Wednesday India's wholesale inflation rate (WPI)

decreased further to 0.85% year-on-year in April compared to March's four-month low rate of

2.05%.

The April 2025 inflation rate rose because of higher prices in food product manufacturing along

with other manufacturing sectors, chemical production and additional transport equipment and

machinery manufacturing.

The Ministry of Statistics and Programme Implementation reported on Tuesday that retail

inflation in India decreased to 3.16% in April after being 3.34% in March. In April 2025

headline inflation decreased by 18 basis points from the previous month's figures. The

government reports that the year-on-year inflation rate is now at its lowest point since July 2019.

The primary reasons for the substantial reduction in headline inflation and food inflation

throughout April 2025 include decreased inflation rates for vegetables, pulses & products, fruits,

meat and fish, personal care items and effects, and cereals and products.

India's 10-year benchmark federal paper yield increased by 1.15% from 6.354 to 6.357