New Delhi, Aug. 5 -- Positive global cues amid speculation over a US Federal Reserve rate cut in September, and a weaker dollar triggered broad-based buying in the Indian stock market on Monday, lifting the benchmark Nifty 50 to 24,722.75.

Other factors that supported the rally in the domestic market were better-than-expected July auto sales, strong domestic manufacturing PMI, and expectations of a rate cut by the RBI on August 6.

The market is looking for triggers to break out of its current zone, which has been in place since June this year. Experts say if the Nifty 50 sustains above 24,600, it may extend gains to 25,000.

"Nifty formed a bullish candle and an inside bar on the daily frame on Monday. Now, if it holds above 24,600, the...