Killultagh Vic repelled the late thrust of Thistlecrack to claim the Irish Daily Mirror Novice Hurdle at Punchestown for Willie Mullins and Paul Townend.
Winner of the Martin Pipe Conditional Jockeys' Hurdle at Cheltenham, Killultagh Vic was one of three runners in this three-mile Grade One for the champion trainer.
Stable jockey Ruby Walsh unsurprisingly elected to ride Shaneshill, who was sent off the 11-8 favourite having finished second behind esteemed stable companion Douvan in the Supreme Novices' Hurdle before winning at Fairyhouse.
The market leader travelled powerfully throughout, but Killultagh Vic (8-1) tracked his every move and the Mullins runner looked set to assert in the straight.
However, while Shaneshill began to weaken, Colin Tizzard's British raider Thistlecrack came with a wet sail and was just half a length down on Killultagh Vic at the line.
Ballyadam Approach bolted up in the valuable Guinness Handicap Chase.
Prominently-ridden British raider Baby Mix put up a fine effort from the front end, but Terence O'Brien's 12-1 shot wore him down under David Splaine for an impressive seven-and-a-half-length success.
Walk To Freedom was a shock 50-1 winner of the Louis Fitzgerald Hotel Hurdle for Jessica Harrington and Robbie Power.
Harrington said: "He's a very funny horse, you just have to look at his record. The last time he fell at the first and buried Robbie. He's got loose in the parade ring before and he ran out at Fairyhouse.
"He's very quirky and could do anything. Today he got it all together and when he does he has quite a good engine.
"He's a chaser in the making."
The Stephen Nolan-trained Shamiran (33-1) landed the Martinstown Opportunity Series Final Handicap Hurdle.
Nolan said: "The big shower before racing helped him. Punchestown has always been lucky for me and to have a winner at the Festival is unbelievable."
The concluding Old House, Kill INH Flat Race went to David Pipe's £205,000 purchase Champers On Ice (9-4 favourite), who got the better of a tremendous duel through the closing stages from the Dermot Weld-trained First Figaro, with Jamie Codd at his strongest.
Live coverage of The Punchestown Festival on RTÉ One from 4pm to 6pm, continuing on RTÉ2 from 6pm to 7pm, Tuesday to Friday and on RTÉ2 from 3pm to 6pm on Saturday.
