BENGALURU (Reuters) - 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.

Nifty-50 index and the Sensex though hit record highs on Thursday, however, ended lower with gains of 0.15% and 0.29%

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session higher. Nifty 50 closed at 25,415.80, while Sensex ended at 83,184.80. Overnight, Wall Street indices witnessed gains, with S&P 500 and Dow Jones closing at record high levels.

The US data released overnight indicates that the US labour market is only slowing, not deteriorating. With inflation under control, this means the US is set for a soft landing under a declining interest rate scenario.

Indian stock market benchmarks Sensex and Nifty 50 hit record highs on September 20. Positive global cues after the Fed rate cut are seen as the prime factors behind the fresh market rally.

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.

Indian equity benchmark indices hit fresh record highs, after opening higher on Friday, led by overnight gains on the Wall Street.

The Benchmark Indices on Wednesday after scaling new highs, however corrected to end with 0.16% decline ahead of FOMC meeting outcome. Analysts say markets will react on Thursday to the quantum of rate cuts as will take cues from the Fed commentary on further rate cuts.

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.

India stocks were higher after the close on Friday, as gains in the Real Estate, Capital Goods and Auto sectors led shares higher. At the close in NSE, the Nifty 50 added 1.48% to hit a new all time high,

The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,530 level, a premium of nearly 40 points from the Nifty futures’ previous close.