Sensex hits record high post US rate cut, M&M leads gainers, market bullish on global cues, potential for further gains.

Domestic stock market benchmarks, Sensex and Nifty, hit fresh record highs on Friday amid positive investor sentiments following a 50 basis points cut by the US Federal Reserve. In the last two days, the Sensex has gained nearly 1600 points and Nifty has added 413 points.

The sensex crossed the 84,000 mark for the first time Friday as foreign institutional buying, following a global rally after US Fed's rate cut, drove key indices to record-highs. It touched an intraday high of 84,

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.

Indian stock market benchmarks Sensex and Nifty 50 hit record highs on September 20. Positive global cues after the Fed rate cut are seen as the prime factors behind the fresh market rally.

The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,530 level, a premium of nearly 40 points from the Nifty futures’ previous close.

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.

Nifty and Sensex opened strong following a global market surge after the US Federal Reserve's interest rate cut.

The Nifty Metal index gained 1.5 percent in early trade, breaking a three-day losing streak, following Macquarie's upgrades on ratings and price targets for several major players in the metal sector.

Within the Nifty index, several prominent companies, including NTPC, Titan, Kotak Bank, And Nestle India were among the top gainers. On the other hand BPCL, Coal India, ONGC , And Adani Ports were the the top losers.