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Nifty 50 closed 1.2% higher at 18484.10 points, and Sensex ended 1.2% higher at 62272.68 points.

Meanwhile, Nifty50 hit its fresh 52-week high and was trading above the 18,500 mark, just 150 points shy of the record high level ahead of the monthly F&O expiry.

"Gold and silver prices rebounded from intraday lows after the dollar fell against its major crosses as the Fed meeting minutes suggest that the central bank was less hawkish as compared to expectations," said Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services.

The readout of the Nov. 1-2 meeting, at which the Fed raised its key rate by 75 basis points for the fourth straight time in an effort to combat decades-high inflation, showed officials were largely satisfied they could stop front-loading the rate increases and move in smaller steps.

“The next three-four years could be something like this where the smaller companies, the underdogs, the underperformers can play some amount of catch up but when this trend reverses and we get into a bear market, that is when the problem starts and one cannot really bet too heavily or have a portfolio which is too skewed in some of these smallcap companies.”

“Hindustan Motors Limited has entered into a Memorandum of Understanding (MOU) to extend the EV domain across the border to enhance the production of eco-friendly electric vehicles,” the company said in a BSE filing on Tuesday post market hours. The company did not divulge details of the MoU.

The scrip was listed at a mild premium of 3% on both exchanges - National Stock Exchange (NSE) and BSE - at Rs 555 apiece, against an issue price of Rs 541 per equity shares.

“The secret of my longevity as a fund manager is that you do not overdo anything. From the ‘90s to now, every two, three years there is a new hero and then that fellow says I only do this and that time it is working and so he is followed and everybody likes his fund and then he disappears from the face of this earth by either being blown out, burnt out, fired, retired but mostly because that sub theme stops working.”

The aggregate cement pack saw around a 45% YoY drop in the operating profit in Q2, the second-highest after the metals and mining sector.

There is no question of succession planning in the family as no one is interested, said Ramesh Chauhan. He further said that on successful end to negotiations, the Tatas can take over the company as the Bisleri Chairman is looking for someone who will nurture it and grow the company.