Benchmark Sensex closed above the historic 84,000-mark for first time while Nifty settled at a new record high on Friday, powered by a rally in frontline bank stocks along with upbeat trends in the US

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

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,

Stocks like Mahindra & Mahindra (M&M), JSW Steel, Maruti, Tata Steel, Larsen & Toubro, ICICI Bank, Power Grid, Nestle, Bharti Airtel and Adani Ports were the biggest gainers amongst the Sensex pack. The rally was mostly led by auto and metal stocks. Nifty Auto is up 1.70, while the Nifty Metal surged 1.90%.

NTPC, Kotak Mahindra Bank, Titan Company, Nestlé India, and Hindustan Unilever were among the top gainers on the BSE Sensex

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.

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.

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).