The Nifty 50 gave back some of its previous day’s gains on August 12, closing 98 points lower after failing to hold the 100-day EMA. The index dropped over 200 points from the day’s high of 24,700, which now stands as an immediate resistance,

The S&P 500 rose 0.6% and was on track to top its all-time high set two weeks ago. The Dow Jones Industrial Average was up 251 points, or 0.6%, as of 9:35 a.m. Eastern time, while the Nasdaq composite was 0.7% higher and also heading toward a record.

The U.S. stock market is flirting with its records on Tuesday after data suggested inflation across the country was a touch better last month than economists expected. The S&P 500 rose 0.6% and was on track to top its all-time high set two weeks ago.