Indian shares rose for the second day, as investors began buying into blue chip stocks ahead of the earnings season, when firms are seen reporting hefty profits. The reporting season for the March quarter kicks off next month.
The 30-issue Mumbai Stock Exchange index rallied 2.1 percent to 5,528.94 points in a broad rally led by commodity and auto stocks.
"Investors are saying, 'Thank God March is over,' because they can now look forward to fiscal fourth quarter results and fresh flows from domestic funds," said Ajit Surana, managing director of Dimensional Securities Pvt. Ltd.
State-run refiner Bharat Petroleum Corp jumped 7.4 percent to 470.25 rupees on expectations that a new government will allow the politically sensitive fuel prices to be hiked after general elections in April-May.
Other industrials gained on hopes of robust March sales numbers and strong demand in India's booming economy.
Associated Cement Companies Ltd, the largest cement maker, rose about four percent to 255.35 rupees while leading truck maker, Tata Motors Ltd added nearly three percent to 466.35 rupees.
Steel Authority of India Ltd, the biggest steel producer, rose more than three percent to 33.15 rupees a share.
Although they depend on exports for 70 percent of their revenues, software firms shrugged off the rupee's gains as investors cheered the tech-laden Nasdaq index's overnight gains.
Infosys Technologies Ltd, the second-largest software exporter, rose 2.6 percent to 5,300 rupees and Satyam Computer Services Ltd, the fourth-biggest, gained 4.7 percent to 320.65 rupees.
Government bonds ended higher, buoyed by a lower-than-expected federal borrowing target for first six months of the next fiscal year starting in April.
The yield on the benchmark 10-year bond eased nearly one basis point to 5.1594 percent.
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