New Delhi: Indian stocks rallied sharply on Thursday morning after consumer inflation in the US showed some moderation in July. Investor sentiments were firm on hopes that inflation has probably plateaued. At 0926 IST, Sensex traded at 59,374.61 points, up 557.32 points or 0.95 per cent, whereas Nifty traded at 17,680.10 points, up 145.35 points or 0.83 per cent. As many as 46 Nifty 50 stocks traded in the green this morning, National Stock Exchange data showed. The inflation print for the month was down from a four-decade high of 9.1 per cent in June. In July, FPIs bought equities worth Rs 4,989 crore and became net buyers after nine months, National Securities Depository (NSDL) data earlier showed. In the past one month, the indices Sensex and Nifty - gained around 8-9 per cent each, respectively. Notably, the Indian stocks recorded their best weekly performance during the week to July 22 marking its best week since February 2021. For fresh cues, Indian stock market investors will also await retail inflation data for July, which is expected on Friday.