Indian shares climbed adding to their second week of gains boosted by a thumping win by PM Modi’s party in a key state and the U.S. Fed struck a dovish tone after a policy meet.

The benchmark S&P BSE Sensex gained 0.2 percent to 29,649, its highest level in nearly two-years. Meanwhile, the NSE Nifty index closed little changed but at a new record high of 9,160. This after the 50-share index rose as much as 0.7 percent to register a new intraday all-time high of 9,218.40.

ITC Ltd. was the top gainer on both the Sensex and the Nifty after the government indications that it will refrain from raising taxes on cigarettes, potentially helping the company make up three years of lost sales. Technology stocks also made a comeback this week, led by Wipro and HCL Tech.

The market breadth, however, turned in favour of the sellers at close of trade. About 883 stocks declined, 627 advanced and 60 remained unchanged on the NSE.