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.

Wall Street is holding near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.

Wall Street pointed lower as a rally driven by the Federal Reserve’s big cut to interest rates faded and markets’ focus turned to earnings and other corporate news.