Indian shares resumed their rally on Wednesday, encouraged by firm global markets and a strong US dollar which investors expect will boost revenues for export-reliant software services firms. The 30-share Mumbai Stock Exchange index resumed its climb after a day's pause, rising 1.01 percent to 7,119.88 points. The index had posted successive new peaks on Friday and Monday, when it had closed at 7,228.21 points.
Foreign funds have pumped in nearly $947 million in June, helping the index gain about 15 percent since the start of May.
Index heavyweight and petrochemicals and energy major Reliance Industries Ltd rose more than 2 percent as crude oil prices pulled back from highs above $60 per barrel.
Software services firms, which get more than two-thirds of their revenues from the United States, gained from a firm dollar, which rose to an 8-1/2-month high vs the yen. Bellwether Infosys Technologies Ltd rose 1.4 percent and No. 3 exporter Wipro Ltd rose 1.9 percent.
Federal bonds rose helped by demand from state-run banks said to be pushing up quarter-end bond valuations.
The yield on the popular 8.07 percent bond, eased 3 basis points to end at 6.9242 percent.
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