The benchmark S&P/ASX200 index has finished 1.5 points from its best-ever closing high. -AAP Image
The local share market has hit a new intraday record before moderating its gains to come within a whisper of its best-ever finish amid growing near-certainty that the Reserve Bank will cut rates.
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The benchmark S&P/ASX200 index on Thursday finished up 46.7 points, or 0.55 per cent, to 8,493.7, just 1.5 points from its best-ever finish set on December 3.
The index climbed as high as 8,515.7 in early afternoon trading, beating by 1.2 points its previous intraday high, also set on December 3.
The Australian dollar was buying 62.22 US cents, from 62.44 US cents at close of business on Wednesday.
