The Sensex surpassed 18,000 points for the first time since March 14, on hopes for fiscal reforms after the aviation minister expressed hopes the government would allow foreign direct investment into the sector.
Gains in local shares on Wednesday also tracked a risk-on mood globally, after Germany's top court backed the legality of the euro zone bailout funds, although with conditions.
SpiceJet Ltd rose 7.5 percent, Kingfisher Airlines advanced 8.5 percent, while Jet Airways added 4.8 percent.
The Sensex was up 0.8 percent at 17.991.84 points as of 3.20 p.m., after hitting a session high of 18,007.66.
The Nifty rose 0.7 percent.
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