Indian share prices closed up 1.49 percent at their second-highest level ever on Thursday, driven by sharp gains by software stocks, dealers said. They said the strong performance came on the back of IT services giant Infosys' better-than-expected 52 percent jump in second-quarter net profit to 9.3 billion rupees (206 million dollars) announced the previous day.
The benchmark 30-share Sensex index rose 184.49 points to 12,537.98. The Sensex index's highest close was on May 10 when it finished at 12,612.38 before it began a sharp correction triggered by fears of higher US interest rates and a slowing world economy.
Software, metals and automobile stocks all rose strongly. "The Infosys earnings have boosted sentiment. We, however, feel valuations at these levels appear stretched. Buying could be selective from here on," said Nikhil Thacker, research head at UTI Securities.
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