The benchmark index Sensex touched the psychologically crucial 60,000 mark on Wednesday morning after more than four months.
A slight moderation in inflation - both in the US and India - coupled with fresh inflow of foreign funds into Indian capital markets infused positive investor sentiments.
Sensex last touched 60,000 mark in early April. The latest bull run in Indian stocks has been continuing for the past five weeks on a trot.
Till early July, Foreign Portfolio Investors (FPIs) were consistently selling equities in the Indian markets for the past nine-to-ten months due to various reasons, including tightening of monetary policy in advanced economies, rising demand for the dollar and high returns from US bonds.
Both the Sensex and Nifty rose nearly 10-11 per cent during the ongoing rally on a cumulative basis, thereby recovering largely the entire losses they witnessed so far in 2022.
Notably, the ongoing rally has made Indian stocks investors richer by around Rs 25 trillion.