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

Stock Market LIVE Updates | On Thursday, benchmark indices Sensex and Nifty reached new all-time highs, following positive global trends after the US Federal Reserve implemented its first interest rate cut in over four years.

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. The GIFT Nifty was at 25,453.5 points as of 08:08 a.