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 BSE benchmark Sensex breached the historic 84,000-mark for first time ever on Friday morning and the Nifty also hit its new record high level, tracking a rally in global markets, after the US Federal Reserve cut its benchmark interest rate after more than four years.

The Indian equity benchmarks created new record highs on Friday boosted by strong trend in US markets overnight. The Sensex rose as much as 975 points to hit new record high of 84,159.90 and Nifty 50 index touched an all-time high of 25,