Market hits new all-time high; Sensex gains 1,197 points, and Nifty closes above 22,950

Nifty closed just short of the coveted 23,000 milestone as buying across all sectors, with the exception of metal and pharmaceuticals, negated the hawkish Fed minutes. The bulls were back in action on Dalal Street. Benchmark indices reached new all-time highs.

Both the Sensex and the Nifty had closed with gains of 1,196.98 points and 1.61 percent, respectively, at 75,418.04 and 22,967.70, respectively.

The Indian indices began flat, with the Nifty opening at 22,600, amid erratic global patterns. But as the day went on, the market ramped up and continued to rise, with the Sensex closing the day at 75,499.91 and the Nifty reaching new intraday highs of 22,993.60 and 22,993.60, respectively.

The Nifty Midcap 100 index closed at 52,418.55, up 0.48 percent, after reaching a new intraday high of 52,452.65. The BSE Smallcap and Midcap indices both saw increases of 0.3 and 0.5 percent.

Adani Enterprises, Adani Ports, Axis Bank, L&T, and M&M were the top gainers on the Nifty, while Sun Pharma, Power Grid Corp., Hindalco, Coal India, and NTPC were the losers.

All sectors indices ended the day higher, with the exception of metal and pharmaceuticals. Auto, bank, and capital goods all saw gains of two percent. Specific stocks that experienced a volume rise of over 300 percent included GMR Airports Infrastructure, ITC, and Jubilant FoodWorks.

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