Sensex ends at all-time closing high; SBI gains 4%

The BSE benchmark Sensex today rose to a fresh lifetime closing high of 22,214.37 points on sustained FII buying in banking and oil & gas shares amid hopes that the economy would be on recovery path soon and the Reserve Bank will hold interest rates steady.
The 30-share Sensex touched all-time high of 22,307.74 intra-day. This is the fourth day in succession that the key index has risen to record high levels intra-day.
The BSE barometer moved for most of the day in the positive terrain before settling at 22,214.37, up 119.07 points or 0.54 per cent from its previous close.

The NSE Nifty rose by 40.35 points or 0.61 per cent to end at new peak of 6,641.75. It recorded historical intra-trade high of 6,673.95.
Foreign institutional investors (FIIs) bought shares worth Rs 1,004.52 crore yesterday, as per provisional data with stock exchanges.
Brokers also ascribed the rise to hectic short-covering on the last day of March contract of Futures and Options.

Some participants, however, warned that the much-needed correction is likely to come after elections.
SBI notched up a gain of 4.04 per cent, the biggest gain among Sensex stocks. Bharti Airtel was up 4.00 per cent, Hero Motocorp 3.11 per cent, Gail India 1.75 per cent, NTPC 1.74 per cent, Bajaj Auto 1.62 per cent, HUL 1.37 per cent, RIL 1.34 per cent, ONGC 1.34 per cent, Tata Power 1.29 per cent, BHEL 1.23 per centand Wipro 1.14 per cent.

However, Dr Reddy's Lab fell by 1.80 pct followed by SSLT 1.26 pct, Tata Motors 1.10 pct and Sun Pharma 1.00 pct.
Bourses have been on a rising spree since Monday when it closed above the 22,000-level for the first time with foreign institutional investors (FII) pouring in money into stocks. On Tuesday, it closed lower by a marginal 0.27 points though.
Consistent pumping of money by FIIS had lifted the BSE benchmark index Sensex and broader NSE Nifty to their lifetime closing high of 22,095.30 and 6,601.40 points respectively yesterday.