Aust shares rally to new record, finish just below 7900

ASX screens in Sydney.
The local share market closed at a fresh all-time high on the final trading day of March. -AAP Image

The local share market has closed at a record high for the fifth time this year, finishing just under 7,900 after crossing above that level for first time ever in intraday trading.

The S&P/ASX200 on Thursday rose 77.3 points, or 1.0 per cent, to 7,896.9, breaking its previous record close of 7,847 set on March 8.

For the quarter, the benchmark index rose 4.0 per cent. It was up 2.6 per cent for the month, its fifth straight month of gains. For the holiday-shortened week it added 1.6 per cent, its fourth winning week out of the past five.

The broader All Ordinaries on Thursday finished up 80.1 points, or 1.0 per cent, to 8,153.7.

The Australian dollar was buying 65.29 US cents, from 65.27 US cents at Wednesday's ASX close.