Indian benchmark indices Nifty 50 and Sensex ended the previous trade session higher after hitting fresh record highs. Nifty 50 ended the previous trade session at 25,790.95, while Sensex ended at 84,

Among the top gainers on the NSE were State Bank of India (SBI), which rose 2.89 per cent, followed by ONGC (2.85 per cent), Mahindra & Mahindra (2.72 per cent), Bajaj Auto (2.48 per cent), and HDFC Life (1.81 per cent).

India's benchmark indices hit fresh highs for the fourth consecutive session as oil and gas stocks led the day's gains on Dalal street.

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. The Nifty and Sensex have gained 18.

The ongoing rally is fueled by optimism over policy stability following national elections in June and strong growth prospects for India. Additionally, expectations of a soft landing for the US economy and rising foreign institutional investor (FII) inflows have further bolstered investor confidence.

In the US, Wall Street ended flat on Friday, with all three major stock indices staying near record highs, as investors continued to focus on riskier assets.

Stock markets are expected to open on a positive note on Monday, signals from trading at Gift City suggest. Domestic markets are expected to maintain the momentum, as foreign portfolio investors stepped up their investments post the US Fed Reserve rate cut.