Sensex gains 46.30 pts to end FY14 on cheerful note

Stock markets ended 2013-14 fiscal on a positive note with the 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 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.

Reliance Industries, Hindalco, HDFC and Infosys helped the Sensex extend gains for fourth day.

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.