Information technology stocks rose almost 1% at midday Wednesday.

Australia's consumer price index (CPI) rose 0.9% in the March quarter, following two successive quarters with increases of 0.2%. The Reserve Bank of Australia is widely expected to cut interest rates in its May monetary policy meeting.

Weebit Nano (ASX:WBT) said it was granted three new patents in various resistive RAM technology-related domains, such as manufacturing parameters, design techniques, and interfacing across key markets including China, the US, and Europe in the March quarter.

On the flip side, the utilities stocks fell 1.3%.

Origin Energy (ASX:ORG) Australia Pacific liquified natural gas revenue for the March quarter was AU$2.43 billion, down 5% from a year earlier, due to lower volumes and prices. Production also fell 5% year on year to 167.1 petajoules (PJ), and sales dropped 4% to 160.5 PJ.