Dalal Street began Thursday’s trade on a record-breaking note, extending the powerful momentum from Wednesday when both Sensex and Nifty rallied nearly 1%.

The Nifty 50 opened at 26,261.25, surged past its previous record of 26,277.35, and hit a new all-time high of 26,295.55 in early trade, gaining 80.65 points or 0.31 per cent. The milestone comes after 427 days and 290 trading sessions, marking the index’s return to record levels after more than a year.

On Wednesday, the benchmark posted its best single-day session in five months, closing at a 14-month high. The rally was fuelled by renewed optimism that the US Federal Reserve may begin cutting rates in December.

Rate-sensitive sectors like banks, auto and real estate saw strong buying interest ahead of the RBI policy meeting next week, further lifting market sentiment.

The BSE Sensex also climbed to 85,843.82 soon after opening, starting the day at 85,741.13, a gain of 131.62 points or 0.15 per cent. 

Ajay Bagga, a Banking and Market expert, told ANI that Indian markets are well-positioned to break their all-time highs set in September 2024. "A close above that level can open the way to a rapid catch-up in the Indian markets, which have underperformed over the last 14 months. Historical data shows that after such an underperformance, Indian markets tend to deliver strong returns in the next 12 months," he said.

Bagga attributed the positive outlook to an expected rebound in corporate earnings over the next two quarters, supported by favourable fiscal and monetary policies and recovering domestic consumption.

In the commodities segment, gold and silver also continued their upward momentum, tracking global cues.

Ponmudi R, CEO of Enrich Money, told ANI that the Nifty remains in a strong bullish trend, consistently forming higher-low patterns and holding above key support zones. A sustained close above 26,277 could trigger a momentum rally toward the 26,350-26,500 range, with a potential short-term extension to 27,000. On the downside, he noted immediate support at 26,100-26,000, with a stronger safety zone near 25,850 in case of a sharper pullback.

(With ANI inputs)