New Delhi [India], July 12 (ANI): Indian stock indices rose Wednesday, though marginally, and continued with its ongoing bull run.

Investors now await retail inflation data for June to be released later today. Analysts expect inflation may see an uptick due to the sharp rise in tomato and a relative spurt in prices of pulses.

Sensex and Nifty were 0.2 per cent higher each, a touch below their fresh peaks touched as recent as last week. Sensex is trading at 65,739 points, against its all-time high of 65,989 points.

This morning, 27 of the Nifty 50 stocks were in the green with ONGC, HDFC, NTPC, HDFC Bank, and Kotak Mahindra Bank leading the pack, NSE data showed.

The consistent inflow of foreign funds, firm economic outlook, and moderation in inflation supported Indian stocks in the latest bull run. However, several analysts have been pointing out that any further rally from the current levels is unlikely as valuations are on the higher side.

“Even after the recent run up in markets, sentiments are clearly bullish. Global and domestic cues are positive,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

For fresh cues in overall domestic markets going ahead, investors also await April-June earnings data of Indian companies, expected to pour in starting this week.

Retail inflation in India further eased in May to 4.25 per cent, hitting a two-year low. It was at 4.7 per cent in April and 5.7 per cent in March. RBI’s consistent monetary policy tightening since mid-2022 could be attributed to India’s substantial decline in inflation numbers.

India’s retail inflation was above RBI’s 6 per cent target for three consecutive quarters and had managed to fall back to the RBI’s comfort zone only in November 2022.

Under the flexible inflation targeting framework, the RBI is deemed to have failed in managing price rises if the CPI-based inflation is outside the 2-6 per cent range for three quarters in a row. (ANI)