Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday tracking positive cues from global peers.The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index.

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,

This is the first rate cut by the US Federal Reserve since early 2020. The move shows that the focus of the Fed has now shifted from fighting inflation to supporting economic growth, analysts said.

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 equity indices closed on a strong note on Thursday, with the Nifty hovering around 25,400. Gains in the banking, FMCG, and real estate sectors pushed the index up. In addition, the Federal Reserve's more significant-than-expected rate cut boosted global stocks,

The Indian equity benchmarks resumed their up move on Thursday after a day's pause in the previous session after the US Federal Reserve surprised global markets with first rate cut in four years which was larger than expected.