New Delhi, May 16 -- Stock market update: Nifty 50 jumped 1.60% on Thursday, 15 May, closing above 25,000 for the first time in over seven months, driven by a sharp drop in retail inflation to 3.16% and wholesale inflation below 1% in April. This raised expectations of a rate cut by the Reserve Bank of India.

based buying in auto, metal, IT, energy, and realty sectors supported the rally. Positive global cues and optimism around US-China trade talks also boosted sentiment, while the weekly F&O expiry added momentum to a strong late-session rally.

Two stock recommendations by MarketSmith India for 16 May:

Buy: Shilpa Medicare Ltd (current price: Rs. 714.9)

* Why it's recommended: Strategic focus on oncology and biologics, strong financ...