Soft US inflation data drives Sensex and Nifty to four-month high

Indian markets rallied on Thursday after softer-than-expected US inflation data triggered hopes that the US Federal Reserve (Fed) might go slow on rate hikes.

The Nifty rose 124 points, or 0.7 per cent, to close at 17,659 - the highest since April 11.

The Sensex ended the session at 59,332, with a gain of 515 points, or 0.8 per cent.

From this year’s lows on June 17, the Sensex and the Nifty have jumped 13 per cent and are now less than 5 per cent shy of new lifetime highs.

Most global markets got a boost after the US consumer