Indian shares rose 1.8 percent on Wednesday after Finance Minister Arun Jaitley unveiled a budget with a range of incentives for companies and geared towards boosting infrastructure and developing the rural economy.

The broader NSE Nifty ended up 1.81 percent at 8,716.40, while the benchmark BSE Sensex closed 1.76 percent higher at 28,141.64. Both indexes earlier hit their highest since Oct. 25, 2016.