Indian stock markets have reached record highs, with the Nifty 50 crossing the 23,000 mark for the first time and the Sensex hitting an all-time peak of 75,525.48. On May 23, the Nifty 50 rose over 300 points to close above 22,900, while the Sensex surged 1,196 points. The rally was driven by gains in auto, IT, and banking stocks, despite a weak market breadth with more stocks declining than advancing. The Nifty Bank index also saw significant recovery, surpassing its 20-DMA level and ending up over 1.17%. The midcap and smallcap indices also hit fresh highs, with the Nifty Midcap index reaching an all-time high. The market's positive momentum continued into the next day, with the Nifty 50 touching 23,000 and the Sensex maintaining its upward trajectory. The Nifty 50 had earlier crossed the 22,800 mark and hit an all-time peak of 22,860.65 on May 23. On May 24, the Sensex crossed its previous high of 75,499.9, with PSU Banks contributing to the gains.