Indian share prices closed up nearly three percent on Wednesday, extending gains for a second day in line with a recovery by key Asian markets, as infrastructure stocks posted a strong performance, dealers said.
They said domestic funds bought cement, infrastructure and banking stocks as sentiment improved following benign US inflation data that eased fears of further US interest rate hikes.
The benchmark 30-share Sensex index rose 2.9 percent or 344.08 points to 12,217.81.
"A strong opening kept the buying momentum going," said R Balakrishnan, director of Parallex Consultancy Services.
"Domestic fund support pushed the markets back above 12,000 levels, but one should not rule out further choppiness at these levels," he added.
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