Sensex, Nifty scale fresh peaks after Federal Reserve's rate cut decision

Benchmark equity indices Sensex and Nifty surged to their fresh record high levels in early trade on Thursday after the US Federal Reserve cut its benchmark interest rate after more than four years.

The 30-share BSE Sensex jumped 735.95 points to scale a new all-time high of 83,684.18 in early trade. The NSE Nifty also surged 209.55 points to hit a fresh record peak of 25,587.10.

From the 30 Sensex firms, NTPC, Axis Bank, Tata Motors, Tata Consultancy Services, Bharti Airtel, Tech Mahindra, Infosys and HDFC Bank were the biggest gainers.

Bajaj Finserv emerged as the only laggard from the pack.

In Asian markets, Tokyo, Shanghai and Hong Kong rallied while Seoul quoted marginally lower.

The US markets ended lower on Wednesday.