Early trading saw all-time highs for the Sensex and Nifty

In the opening hours of trading on Thursday, benchmark stock indexes recovered, with the Sensex and Nifty reaching record highs as a result of a rally in international markets after easing US CPI inflation data.

purchasing a heavyweight Additionally, Tata Consultancy Services assisted markets in trading in the positive zone.

Early trading saw the 30-share BSE Sensex rise 391.48 points to 65,785.38. To reach 19,495.60, the NSE Nifty increased by 111.3 points.

Later, both benchmark indexes reached their corresponding record highs. The Nifty achieved an all-time high of 19,540.25 while the Sensex reached its lifetime high of 65,943.57.

Among the top gainers from the Sensex pack were Tata Steel, HDFC Bank, Mahindra & Mahindra, Infosys, JSW Steel, Kotak Mahindra Bank, and Tata Consultancy Services.

TCS’s share price increased 1.62 percent the day after it released its June quarter results.

The biggest IT services provider in the nation recorded a 16.83% gain in net profit for the June quarter to Rs 11,074 crore but sounded cautious about growth prospects for the fiscal year owing to market uncertainty.

The laggards included Power Grid, HCL Technologies, Asian Paints, Hindustan Unilever, Maruti, and Nestle.

Even though HCL Technologies announced a 7.6% year-over-year increase in net profit for the June quarter on the strength of new order wins, the company’s shares were still trading more than 1% down.

Seoul, Tokyo, Shanghai, and Hong Kong were all trading in the black on Asian exchanges.

The US stock markets closed higher on Wednesday.

According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “the ongoing global rally in stock markets will get a further mild boost from the latest US consumer inflation for June, which has come at 3%, better than market expectation of 3.1 percent.”

According to official statistics issued on Wednesday, manufacturing production climbed at a higher rate of 5.2% in May while retail inflation increased to a three-month high in June due to increasing costs for kitchen basics.

Consumer Price Index (CPI)-based retail inflation jumped to 4.81 percent in June after decreasing for four straight months, although it still stayed within the Reserve Bank’s target range.

“Although India’s June CPI inflation rate rose to 4.81 percent, this was to be anticipated given the sharp increases in the cost of vegetables and milk. The good figure is the May IIP at 5.2%, which shows that the economy’s growth momentum is strong, noted Vijayakumar.

Benchmark Brent crude increased 0.45% to USD 80.47 per barrel.

“The moderating US CPI inflation data would bring in cheers to investors worldwide as this may prompt the Federal Reserve to soften its hawkish stance during its rate-setting meeting on July 26,” said Prashanth Tapse, Senior VP (Research) of Mehta Equities Ltd.

Following a day of relentless purchasing, foreign institutional investors (FIIs) sold shares worth Rs 1,242.44 crore on Wednesday, according to exchange data.

The BSE benchmark dropped 223.94 points, or 0.34 percent, to end the day on Wednesday at 65,393.90. The Nifty finished at 19,384.30 after losing 55.10 points, or 0.28 percent.