BSE Sensex and NSE Nifty50 – opened on Thursday at record highs, with both indices up 1% from the previous session's closing, following the Federal Reserve's decision to lower interest rates by 50 basis points (bps).

Twelve of the 13 major sectors logged gains, with metals leading sectoral gainers with a 1.75% climb and all 15 of its constituents were in the green

Mahindra & Mahindra, JSW Steel, Maruti, Tata Steel, Larsen & Toubro, ICICI Bank, Power Grid, Nestle, Bharti Airtel and Adani Ports led the gains

The 30-share BSE Sensex surged 439.75 points to 83,624.55 in early trade, while the NSE Nifty rose 132.05 points to 25,547.85. Among the top gainers from the 30 Sensex firms were JSW Steel, Tata Steel,

Benchmark equity indices Sensex and Nifty surged to their fresh record high levels in early trade on Thursday after the US Federal Reserve cut its benchmark interest rate after more than four years.

The Fed's interest rate cut is a positive factor for Indian equities as it boosts global liquidity, potentially attracting more foreign funds. However, concerns over high valuations continue to loom large.

It’s a rally powered by the US Fed’s massive 50 bps rate cut. The benchmark equity indices opened Thursday’s trading session on a high. The NSE Nifty 50 opened 0.47% higher at 25,502, while the BSE Sensex opened 422 points 0.

India's NSE Nifty 50 and S&P BSE Sensex are trailing only Wall Street's Nasdaq and S&P 500 as top-performing indexes this year, with analysts expecting the rally to extend into 2025. The Nifty and Sensex have gained 18.

The US data released overnight indicates that the US labour market is only slowing, not deteriorating. With inflation under control, this means the US is set for a soft landing under a declining interest rate scenario.

Indian markets, Sensex and Nifty, surged in early trade following a global rally after the US Federal Reserve cut interest rates. JSW Steel, Tata Steel, Mahindra & Mahindra, Larsen & Toubro, Bajaj Finserv and Maruti were top gainers.