Mumbai, Aug 13 (IANS): The Indian stock market climbed to new highs on Friday with the BSE Sensex crossing the 55,000-mark for the first time.

Sensex has hit an all-time high of 55,199.42 and the Nifty50 on the National Stock Exchange touched a record high of 16,468.45.

On Thursday, the Index of Industrial Production (IIP) for June showed a rise of 13.6 per cent from a decline of (-) 16.6 per cent reported for the like month a year ago

Further, data furnished by the National Statistical Office (NSO) showed that the Consumer Price Index (CPI) slipped to 5.59 per cent last month from 6.26 per cent in June.

Around 11.10 a.m., Sensex was trading at 55,196.80, higher by 352.82 points or 0.64 per cent from its previous close of 54,843.98.

It opened at 54,911.95 and touched an intraday low of 54,905.49 points.

The Nifty50 on the National Stock Exchange was trading at 16,467.40, higher by 103.00 points or 0.63 per cent from its previous close.