Stock markets ended 2013-14 fiscal on a positive note with the BSE Sensex rising by 46.30 points to fresh record closing high of 22,386.27 on buying by foreign funds in select oil, metal and banking stocks ahead of RBI policy meet.
The 30-share barometer, which remained on a record setting spree for the sixth day, touched a record intra-day high of 22,467.21 in a volatile trade. It fell to a low of 22,253.78 in the day.
The NSE Nifty index of National Stock Exchange too touched all-time high of 6,730.05 during the day but settled a tad lower at 6,704.20, still up by 8.30 points over the previous close.
Markets remained on setting record levels for the sixth consecutive session on hopes that the RBI may keep interest rate on hold in the policy meeting tomorrow, brokers said.
Brokers said 2013-14 ended on a cheerful note as foreign investors remained net buyers in Indian equities and bonds this month on improving growth outlook.
A firming trend in the Asian region and higher opening in Europe also supported the uptrend.
In 30-BSE index components, 18 stocks ended higher.
The metal sector index gained the most by rising 3.87 per cent to 10,059.10 followed by realty index by 2.83 per cent to 1,468.40.
Consumer durable index rose by 2.62 per cent to 6,526.14 and auto index by 1.05 per cent to 13,280.27.
BSE Sensex hits sixth consecutive record high, marks best month since Oct
(Reuters) Indian shares edged up on Monday, hitting a sixth consecutive record high and posting their best monthly gain since October, as strong foreign buying sparked a rally in blue-chips, especially those dependant on the domestic economy.
The NSE index's 6.81 percent gain in March was its best performance since a 9.8 percent gain in October. For the quarter, the index rose 6.35 percent, a second consecutive rise since its 9.9 percent gain in the October-December period.
The record-setting rally has been sparked by heavy foreign buying - reaching a provisional $3.2 billion so far this month - as analysts cite expectations the opposition Bharatiya Janata Party would win elections set to conclude by mid-May, given its perception of having a more market-friendly stance.
Bets that India's economy will improve on the back of easing