Sensex and Nifty 50 continued their upward momentum on Friday with the 30-share index of BSE hitting another record high of 85,966.03 at early trade.

The markets rose tracking gains from other Asian markets and a stronger close for the U.S stocks overnight as positive economic indicator from the US and economy stimulus measures boosted investor sentiment across globe.

The 50-share NSE Nifty added 44.80 points or 0.17% to trade at 26,260.85 while BSE was trading flat after shedding some of the gains at 85995 up 108 points or 0.12% at 10.20am (IST). Out of 2,623 stocks traded, 1,600 advanced, 935 declined, and 88 remained unchanged, indicating positive market breadth.

In early market movement, HINDALCO is up by 2.88% at ₹755.8, followed by BPCL rising 2.52% to ₹353.8. TITAN has gained 1.91%, trading at ₹3829.35, while TATASTEEL shows a 1.75% increase at ₹168.51. INDUSINDBK also advanced, up by 1.49% at ₹1474.4.

Meanwhile, POWERGRID is down by 1.89%, trading at ₹358.55, while LT has declined by 1.41% to ₹3709. BHARTIARTL is down 1.28%, priced at ₹1748.5. DRREDDY and DIVISLAB both slipped by 0.71%, trading at ₹6696.8 and ₹5341.35, respectively.

All broad market indices in Nifty are trading in green with small-cap and mid-cap shares leading in the gains. In sectoral indices, Nifty IT surged more than 1.56%  followed by Metal shares and consumer durables. Realty segment lost over a percent while Auto and Bank segments are trading flat.

Earlier most Asian markets rallied as slew of economic policy measures rolled out by the Chinese government this week to revive the economy lifted the investor optimism.

Beijing's stimulus package, exceeding market expectations, propelled most Asian markets to their 2-year highs this week. Additionally, stronger-than-expected U.S. jobless data further boosted investor confidence.

Japan's Nikkei 225 surged over 1.15%to the peak of 39,370.78 points in the afternoon trade.

Hong Kong's Hang Seng index opened at 20446.74and was trading up3.50% or 697 points. Taiwan's benchmark index traded marginally high0.15% and South Korea's Kospi was trading flat losing 0.23%noon sessionFriday.

MSCI's broadest index of Asia-Pacific shares outside Japan added 1.1% to reach its highest level since February 2022.

Mainland China's blue-chip indexsurged more than 3.7% to trade at 3623.48 asthe People's Bank of China said that it would cut the reserve requirement ratio by 50 basis points, the second reduction this year in continuation of its broad easing measures announced this week. The stimulus measures from China aimed at helping its slowing economy pull out also raised investor confidence across markets in Asia.

US stock market ended higher on Thursday, with the S&P 500 scoring a record closing high, amid strong economic data.

The Dow Jones Industrial Average gained 260.36 points, or 0.62%, to 42,175.11, while the S&P 500 rose 23.11 points, or 0.40%, to close at 5,745.37, after rising to a record intraday high of 5,767.37. The Nasdaq Composite ended 108.09 points, or 0.60%, higher at 18,190.29.

 The U.S. weekly jobless claims data released overnight signalled a steady labour market, as the number of Americans filing new applications for unemployment benefits unexpectedly fell last week. The U.S GDP (Gross Domestic Product) growth for the second quarter was at 3% meeting analyst's expectations.

The U.S. weekly jobless claims data released overnight indicated a stable labour market, with a surprising decline in new unemployment applications last week. Additionally, the U.S. GDP growth for the second quarter stood at 3%, aligning with analysts' expectations.