Sensex, Nifty Flat Ahead of India CPI Data; IT Stocks Shine on Fed Rate Cut Hopes

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Indian equity markets remained largely flat on Wednesday, as investors awaited the crucial Consumer Price Index (CPI) data, which is set to be released later today. The benchmark indices, Sensex and Nifty, showed minimal movement amid cautious trading.




The Sensex traded near the 65,500 mark, while Nifty hovered just above the 19,400 level. While the broader market remained subdued, a few sectors showed some resilience. Information Technology (IT) stocks, in particular, surged, boosted by hopes of a potential rate cut by the Federal Reserve. Investors are betting on softer interest rates in the U.S. in response to signs of cooling inflation, which could benefit the tech sector, especially Indian IT companies with significant U.S. exposure.

Tata Consultancy Services (TCS), Infosys, and Wipro led the rally in IT stocks, with gains ranging from 1% to 2%. The momentum in IT stocks helped offset losses in other sectors, keeping the market's movement neutral.

The upcoming CPI data for November is expected to give clarity on inflation trends in India, with analysts forecasting a slight dip from the previous month. The market is keenly watching how the inflation number will shape the Reserve Bank of India's future monetary policy decisions.

While the near-term outlook remains uncertain, market participants are closely tracking global cues and domestic data, which could drive volatility in the coming days

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