The NZX 50 advanced 107 points, or 0.8%, to close at 13,763 on Wednesday, hitting its highest level since July 9 and erasing losses from the previous session, mainly supported by gains in consumer discretionary, materials, healthcare, and financial stocks. Consumer discretionary surged 3.8%, buoyed by SkyCity Entertainment, which jumped 12.8% following upgraded earnings forecasts and positive revenue reports. Meanwhile, My Food Bag Group gained 3.6%. Traders shrugged off Wednesday's data, which showed that New Zealand's inflation rate accelerated to the highest level since Q4 2023 in the second quarter (Q2). However, persistently high oil prices capped the gains as inflation concerns fueled expectations of further interest rate hikes, while RBNZ Chief Economist Paul Conway recently warned that sticky inflation could prompt further monetary policy tightening. Among the other top performers were Fisher & Paykel (1.8%), Ryman Healthcare (1.8%), Infratil (1.5%), and A2 Milk (1.3%).