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

The two key equity benchmark indices, BSE Sensex and NSE Nifty50, hit new record highs tracking a rally in global markets following the US Fed cut its benchmark interest rate. The two indices scaled new levels as the BSE benchmark Sensex breached the historic 84,

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares climbed to a record high on Thursday, buoyed by expectations of a rise in foreign inflows after the U.S. Federal Reserve kicked off its monetary easing cycle with a large half-percentage point rate reduction.

The two key equity benchmark indices, Sensex and Nifty, on Thursday hit their all-time highs following US Federal Reserve announced a 50 bps rate cut on Wednesday evening. At 9.40 am, the BSE Sensex 637 points to 83,

Some analysts had said the 50 basis point cut was already priced in by the market, but others said it would be positive for emerging markets such as India, bringing greater foreign inflows over time.

Indian shares are set to open marginally higher on Thursday as the U.S. Federal Reserve started its monetary easing cycle with a large 50-basis-point rate cut.