At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 57.07 points or 0.09% to 60,335.70. The Nifty 50 index lost 11.55 points or 0.06% to 17,800.85.

The broader market outperformed frontline indices, the S&P BSE Mid-Cap index rose 0.14% while the S&P BSE Small-Cap index rose 0.27%.

The market breadth was positive. On the BSE, 1766 shares rose and 1641 shares fell. A total of 138 shares were unchanged.

Economy:

According to the official data released on Wednesday, India's retail inflation or the consumer price index (CPI) for March eased to a 15-month low of 5.66% from 6.44% in February.

India's industrial output, as measured by the index of Industrial production or IIP, in February rose 5.6% year on year, data from the Ministry of Statistics showed today. The index of industrial production (IIP) expanded by 5.2% in January after rising 4.3% in December.

Numbers to track:

The yield on India's 10-year benchmark federal paper advanced to 7.220 from 7.213 in previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.8675, compared with its close of 82.11 during the previous trading session.

MCX Gold futures for 5 June 2023 settlement added 0.55% to Rs 60,962.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.21% to 101.29.

The United States 10-year bond yield was up 0.04% to 3.422.

In the commodities market, Brent crude for June 2023 settlement slipped 1 cents or 0.01% to $87.32 a barrel.

Buzzing Index:

The Nifty Realty index advanced 0.88% to 424.15. The index rose 0.95% in two trading sessions.

Godrej Properties (up 2.77%), DLF (up 1.39%), Indiabulls Real Estate (up 0.9%), Brigade Enterprises (up 0.35%) and Macrotech Developers (up 0.25%), Phoenix Mills (up 0.05%) advanced.

On the other hand, Sobha (down 2.06%), Mahindra Lifespace Developers (down 0.74%) and Oberoi Realty (down 0.41%) declined.

Stocks in Spotlight:

Happiest Minds Technologies declined 0.53%. The company announced its partnership with NIQ Brandbank, a global leading provider in digital product content, to solve product data & shopper experience challenges.

Coal India (CIL) slipped 0.99%. The company announced that its coking coal production has rose 17.2% to 54.6 million tonnes (MTs) in FY23 as compared with 46.6 MTs in FY22.

K.P. Energy added 1.27% after the announced that KP Group has executed joint business development agreement with UAE- based Tristar Transport LLC for the development of eco-friendly energy solutions across multiple regions including India, Middle East, Africa, Asia Pacific, America, and Europe.