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.

Stock Market LIVE Updates | Sensex and Nifty hit a record high on Thursday, driven by gains in information technology stocks, following the U.S. Federal Reserve decision to initiate its monetary easing cycle with a substantial 50-basis-point rate cut.

The Sensex hit a new high at 83,774 in intra-day deals on Thursday; and has rallied 6% this quarter. Can the BSE benchmark rally another 7.4% to hit the 90K mark by year-end? Check key levels here: BS

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,