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

Indian equity benchmark indices hit fresh record highs, after opening higher on Friday, led by overnight gains on the Wall Street.

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 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.

Indian benchmark equity indices closed on a strong note on Thursday, with the Nifty hovering around 25,400. Gains in the banking, FMCG, and real estate sectors pushed the index up. In addition, the Federal Reserve's more significant-than-expected rate cut boosted global stocks,

The session was volatile, the bulls took control by the end of the day followed by the US Fed Rate cut decision.

The Indian equity benchmarks resumed their up move on Thursday after a day's pause in the previous session after the US Federal Reserve surprised global markets with first rate cut in four years which was larger than expected.