The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,530 level, a premium of nearly 40 points from the Nifty futures’ previous close.

The US data released overnight indicates that the US labour market is only slowing, not deteriorating. With inflation under control, this means the US is set for a soft landing under a declining interest rate scenario.

India front-line indices were trading at an all-time high on Friday in mid-session following positive sentiments in the market after the US Fed rate cut.

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 session was volatile, the bulls took control by the end of the day followed by the US Fed Rate cut decision.

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.