FX.co ★ Sensex Tops 74,000 For First Time; Nifty Ends Above 22,400

On Wednesday, Indian stocks experienced record-breaking highs, with private sector banks and financial stocks leading this boost. The BSE Sensex, a 30-share index, reached an unprecedented high of 74,151 before concluding the session with an increase of 408.86 points, or 0.55 percent, at 74,085.99.

Additionally, the broader NSE Nifty index achieved 22,497 before closing up to 22,474.05, an increase of 117.75 points, or 0.53 percent, supported by an outburst in buying during the final trade hour.

Rising between 2-3 percent in the Nifty pack, companies such as Axis Bank, SBI Life, Bharti Airtel, Kotak Mahindra Bank, and Bajaj Auto saw significant gains. Conversely, stocks like UltraTech Cement, NTPC, and Adani Enterprises saw a drop of around 2 percent.

After recent robust gains, public sector stocks like BPCL and ONGC witnessed a downturn of over 1 percent each.

Worldwide indicators offered a mixed picture, with a slight drop in the dollar value and a minor rise in the U.S. Treasury yields preceding Federal Reserve Chair Jerome Powell's congressional testimony.

Gold maintained its near-record highs due to increasing speculations of a June U.S. interest rate cut.

Lastly, oil prices observed an approximate 1 percent increase in European trade following Saudi Arabia's decision to uplift oil prices for Asia and industry data revealing a less than anticipated crude build in the United States.