Share prices closed firmer, with the benchmark Nikkei 225 index closing at its highest level in more than five years, with sentiment given a lift by solid gains in New York stocks overnight, dealers said. The Nikkei finished the day up 63.83 points or 0.4 pct at 16,425.37, off an intra-day high of 16,474.52. It was the Nikkei's highest close since Sept 20, 2000, when it ended at 16,458.31. The broader-based TOPIX index of all First Section shares added 12.08 points or 0.7 pct at 1,685.15, off a high for the day of 1,685.82. Gainers outpaced decliners 1,048 to 534, with 86 issues unchanged. Volume rose to 2.84 bln shares from 1.47 bln in yesterday's half-day session. "Investors took heart from the continued rally on Wall Street overnight as expectations that the US Federal Reserve will continue its current tightening cycle were waning," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. Dealers said sentiment here was also buoyed by overseas investors, who for the second straight day placed net buy orders before the market opened. "However, the Nikkei was top-heavy near the 16,500 mark as some remained cautious about the rapidity of recent rises in shares here. This helped cap further gains," Ogawa said.