Short-covering ahead of the expiry of futures and options March contract on Thursday also boosted the market. (Agencies)
Tata Steel, which rose 1.54 percent, said the company had launched the bid-cum-auction process for the sale of its land parcel in Borivali. The Sensex opened higher at 22,134.71 and rose further to an all-time high of 22,172.10 before quoting at 22,154.79 at 0950 hours, showing a gain of 99.58 points or 0.45 percent from its last close.
The NSE 50-share Nifty also moved up by 28.30 points or 0.43 percent to 6,618.05 at 0950 hours after touching all-time high of 6,623.25. The other gainers were Tata Motors (1.92 percent), Hindalco Ind (1.53 percent), Gail India (1.51 percent),
Maruti Suzuki (1.36 percent), BHEL (1.25 percent), SSLT (1.14 percent) and Coal India (1.13 percent).
Foreign institutional investors (FIIs) bought shares worth a net Rs 1223.28 crore, as per provisional data from the stock exchanges. Asian shares edged higher in their early trade on fresh signs of strength in US economy and diminishing concerns over the diplomatic standoff between the West and Russia.
Key benchmark indices in Taiwan, Hong Kong, Singapore, Japan, Indonesia and South Korea rose by 0.27-0.96 percent, while in China, the Shanghai Composite fell 0.32 percent.
Short-covering ahead of the expiry of futures and options March contract on Thursday also boosted the market.