Today, markets closed at a new record high and Nifty crossed 52-week high.
The indices began the day higher, with Nifty trading above 18300 in line with encouraging global cues.
The BSE Sensex ended up 851.86 points or 1.38% at 62362.44, and the Nifty closed up 247.20 points or 1.35% at 18514.45. About 1,886 shares advanced, 1,494 shares declined, and 133 shares were left unchanged.
Apollo Hospitals, HDFC Life, BPCL, Infosys and Tata Consumer Products were among the top Nifty gainers, and major losers included Cipla, Coal India, Kotak Mahindra Bank, Tata Motors and Bajaj Finance.
All sectoral indices ended in the green with IT and oil & gas up 1-2%.
“Investors wound up their short positions on expiry day, triggered by US Fed minutes indicating a moderate pace of rate hikes going ahead that eventually propelled benchmark indices Sensex & Nifty to new all-time highs,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
"Other positive catalysts such as the WTI crude oil prices staying sluggish and the falling US Dollar index and yields improved the risk appetite of investors leading to broad-based buying", he said.
“Technically, on daily charts the Nifty has now formed a long bullish candle and is also holding higher high and higher low formation on daily and intraday charts which is broadly positive. For traders, as long as the index holds the support of 18400, there are chances it could hit 18600-18700 levels. On the other hand, below 18400 the uptrend would be vulnerable,” Chouhan said.
On Wednesday, the BSE benchmark had climbed 91.62 points or 0.15%, to settle at 61510.58. The Nifty gained 23.05 points or 0.13%, to end at 18267.25.
Wall Street ended higher on Wednesday. Brent crude was trading 0.23% lower at $85.24 per barrel on the international oil market.
Foreign institutional investors offloaded shares worth Rs 789.86 crore on Wednesday, as per exchange data.
