Major Wall Street indexes surged to record highs on Thursday, boosted by gains in global markets and a rise in Treasury yields. Investors’ risk appetite was heightened as the Federal Reserve initiated its first rate-cutting cycle in more than four years, according to a report by Reuters.

Markets in India were headed for a strong open on Friday, led by overnight gains on the Wall Street, which was driving Asian markets higher as well.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the red after hitting fresh record highs. Nifty 50 ended at 25,377.55, while Sensex ended at 82,948.23. Overnight, the US Federal Reserve cut its benchmark interest rate by 50 bps,