Indian markets continued their bull run on Thursday, with both benchmark indices, Nifty and Sensex, breaking records and reaching new highs.

The Nifty surged by 0.74 percent, or 175 points, to close at 24,044, while the BSE Sensex gained 0.72 percent, or 568.93 points, to end at 79,243.18.

Notably, the Nifty 50 achieved its second-fastest 1,000-point rally, taking just 23 trading sessions to move from 23,000 to 24,000.

Among the top gainers on the Nifty 50 were Ultratech Cements, LTIMindtree, NTPC, Grasim Industries, and Wipro, while Shriram Finance, L&T, Divi’s Lab, Bajaj Auto, and Eicher Motors saw a decline.

In the broader market, the BSE MidCap and SmallCap indices faced minor losses of 0.1 per cent and 0.6 per cent, respectively. Sector-wise, Nifty IT led the gains with a rise of 1.5 per cent, followed by the private bank and financial services indices, both up by 0.4 per cent.

Meanwhile, global markets observed stability in oil prices despite concerns over increased US stockpiles and geopolitical tensions in the Middle East. In the commodities market, spot gold continued its decline on inflation worries and hawkish comments from the Federal Reserve, closing at USD 2,299, down 0.87 per cent. The ten-year US Treasury yield surged over 2 per cent to reach 4.33 per cent, while the US Dollar Index strengthened to 106, up by 0.42 per cent.

(With ANI input)