Nifty-50 at new high as hopes soar

Mumbai: The Nifty-50 hit a record high, as the market rallied on renewed optimism over a series of positive factors like easing US-Iran tensions and falling crude oil price and expectations of growth boosters in the Union budget, a good rabi crop that may boost consumption and a relatively better earnings season. The Nifty crossed the 12,300-mark and touched a new peak of 12,311.20. before closing at 12,256.80. As US-Iran tensions eased, Brent crude oil futures traded around $65 a barrel, a fall from $70-plus.