Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 24

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₹4.28 lakh crore as a result of the continuing upward trend in stocks, which saw the benchmark Sensex reach a lifetime high.Also Read: Stock market today: Sensex, Nifty 50 hit record highs; why did Indian stock market rise?- explained with 5 key factorsDuring the day, the NSE Nifty edged closer to the milestone 23,000 level. At 22,967.65, the 50-issue index rose by 369.85 points, or 1.64%.

It gained 395.8 points, or 1.75%, during the day to reach an intra-day record peak of 22,993.60.Markets concluded at a new all-time high amid short covering, boosting investor optimism toward the election result and robust macroeconomic underlined by the RBI's record dividend distribution, according to Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd. The RBI reported increased rural consumption for the first time in two years, which led to a boost in auto, NBFC, and FMCG companies.

India is the fifth country to achieve this milestone, with the market capitalisation of BSE-listed firms surpassing $5 trillion.According to Parekh, Nifty 50 has indicated a clear breakout above the previous peak zone of 22,800 levels and raced almost to touch the psychological 23,000 landmark to create history once again, with most of the frontline stocks gaining momentum to help the index take charge. The bias is maintained very strongly and can carry on with the positive move till the month end, expecting next targets of 23,200 and 23,700 levels in the coming days, with major support maintained near the 22,550 zone as of now.