Sensex, Nifty rally to new all-time high

The BSE Sensex and NSE Nifty climbed to their all-time high in late morning trade today on the back of short-covering by speculators in view of the last day of futures and options March contract amid persistent foreign capital inflows.

The 30-share index resumed higher at 22,116.23 and firmed up further to an all-time high of 22,204.94 before quoting at 22,179.22 at 1000 hours.

It showed a rise of 83.92 points, or 0.38 per cent, from its last close.

Shares of realty, power, auto and refinery sectors were the major gainers.

Foreign institutional investors (FIIs) continued their buying spree by investing net Rs 1,004.52 crore yesterday, as per provisional data from the stock exchanges.

The NSE 50-share Nifty also rallied to an all-time high of 6,638.80 before quoting at 6,626.60 at 1000 hours, showing a gain of 25.20 points, or 0.38 per cent, from its last close.

Major gainers were - SBI (1.57 per cent), RIL (1.13 per cent), Sun Pharma (0.99 per cent), Gail India (0.78 per cent), Hindalco Ind (0.72 per cent), M&M (0.72 per cent), Bharti Airtel (0.69 per cent) and Tata Motors (0.67 per cent).

However, ONGC dropped by 1.60 per cent, TCS (0.87 per cent) and Coal India (0.57 per cent).

Asian markets were mostly lower in their early trade amid concerns that US President Barack Obama might step up pressure on Russia.

Key benchmark indices in Taiwan, Hong Kong, China and Japan fell by 0.02-1.14 per cent while indices in Indonesia, Singapore and South Korea rose by 0.14-0.45 per cent.

US stocks finished lower yesterday after mid-afternoon selling intensified when President Obama, in a speech in Brussels, called for further economic sanctions against Russia over its annexation of Crimea.