New Delhi, April 24 -- Despite selling pressure in overbought banking stocks, the Indian stock market ended higher on Wednesday, driven by strong buying in IT, pharma and auto stocks. The Nifty 50 index ended 161 points higher at 24,328; the BSE Sensex ended 520 points higher at 80,116. However, the Bank Nifty index ended 277 points southward at 55,370. The Broader markets showed mixed trends: Midcaps outperformed with over 1% gains, while small caps lagged.

Indian IT stocks experienced a significant rally, driven by overnight gains in US technology equities. This positive momentum was further fueled by a change in investor sentiment following signals from US President Donald Trump of a softer stance on Chinese tariffs.

Speaking on the ...