Sectorally,IT and Power indices rose 1.7 percent each, while PSU Bank index down 1 percent. In broader markets, the BSE midcap index ended flat, while smallcap index shed 0.5 percent.

Given the strong momentum, the Nifty 50 is likely to hit 24,500 in the July series if it holds the 24,000-23,800 zone, experts said.

Experts expect the NIfty 50 to hit 24,200, followed by 24,500 in the coming sessions, provided it holds 24,000 as immediate support and 23,800 as crucial support.

While the Nifty Energy Index has beaten the S&P BSE 500 TRI over the past five years, it underperformed the broader markets in the previous five years. A thematic fund is suitable for tactical allocation by experienced investors who are aware of the higher…

Stocks are riding high on strong momentum on expectations of steady earnings growth and stable macros

If the Nifty 50 manages to hold 24,200, then 24,500 can't be ruled out in the coming sessions. Until then, consolidation may continue with support at the 24,000 mark.

The Bank Nifty also soared to a fresh record high of 53,357.70 led by ICICI Bank, Kotak Mahindra and Axis Bank.