While Sensex and Nifty closed below record highs amid volatility, analysts remain cautiously optimistic, noting that Indian equities have defied global uncertainty to post strong gains this year.

The Nifty took 37 days to move from 25,000 to 26,000-point level, a slower 1,000-point journey compared to its previous two 1,000-point rallies.

Sensex and Nifty hit record highs for the fourth consecutive session, boosted by the Federal Reserve's rate cut.

The S&P BSE Sensex was up 80.74 points to 85,009.35, while the NSE Nifty50 added 29.15 points to 25,968.20 as of 10:05 AM. "The bulls continued their gravity-defying move at the start of the expiry week and led the benchmark index to new highs.