Indexes rallied Thursday, with tech stocks leading the Nasdaq to rise 2.5% as investors continued to digest Wednesday's jumbo rate cut from the Fed.

The Federal Reserve on Wednesday cut interest rates with U.S. stocks trading near a record high. leaving investors searching for historical clues to the path ahead for markets. The S&P 500 briefly traded above its record close from July 16 after the Fed delivered a rate cut of 50 basis points before trimming its gain,

Nifty-50 index and the Sensex though hit record highs on Thursday, however, ended lower with gains of 0.15% and 0.29%