Nifty achieves record high of 21,595; Banking stocks propel market gains

On Wednesday, the Nifty index surged to an all-time high of 21,595.10, driven by investor optimism and robust gains in the share market. The banking sector played a pivotal role in this upswing, with notable contributions from HDFC Bank, Reliance Industries Ltd, and Infosys, positioning them as top performers for the day.

The Sensex, another crucial equity index, also witnessed a significant jump of 500 points, reaching a peak of 71,849, reinforcing the positive momentum that has characterized the market in recent days.

This surge follows a consistent upward trend in both Nifty and Sensex, with Nifty crossing the 21,500 mark a week ago. The positive sentiment is attributed to favorable conditions in Asian markets, coupled with the impact of interest rate cuts by the US Federal Reserve.

Experts anticipated a higher opening for Nifty today, given these favorable factors. With both Nifty and Sensex gaining over 7% this month and maintaining a positive trend over the past four sessions, investors are optimistic about the continuation of the bull-run into the New Year.