Nifty breaches 23,000-mark for first time, Sensex hits new all-time high

Benchmark equity indices Sensex and Nifty hit fresh all-time high, with Nifty crossing 23,000 points and Sensex crossing 75,500. Journey of 1,000 points rally from 22k to 23k took 66 days, longer than previous ones with the jump from 21,000 to 22,000 happening in just 49 sessions. The rally from 20,000 to 21,000 took 61 trading sessions, and the 19,000 to 20,000 move also happened in 52 sessions. Market made new highs ahead of election but not everything was due to elections. The rally is driven by positive global cues, record dividend announced by the Reserve Bank of India (RBI), the Sensex semi-annual review, and the strong HSBC Flash India PMI data.