BSE Sensex gained 221.5 points to close at 40,469.78 points while NSE Nifty rose 48.85 points to end at 11,966 points.
Domestic Stock markets on Wednesday experienced a fresh high with the strong inflow of foreign funds and positivity in select stocks.
The BSE S&P Sensex closed 222 points or 0.55 per cent higher at 40,470 while the Nifty 50 moved up by 44 points to 11,961.
ICICI Bank was the biggest gainer with a rise of 2.64 per cent. Infosys, IndusInd Bank, HDFC Bank, HDFC, Tata Motors and Axis Bank were the other major earners in the day. Bajaj Auto, M&M, TCS, ITC and Maruti among others suffered a loss on Wednesday's trade. Cipla Ltd was the top gainer on NSE Nifty.
Individually, Titan Company witnessed a sharp fall of 10 per cent in its share value after the company reported a slight fall in quarterly earnings and cut its revenue guidance to 11%-13% on-year growth for the second half of 2020 from 20%.
Hinting at a big boost to the realty sector, Finance Minister Nirmala Sitharaman on Tuesday said that the government and the Reserve Bank of India (RBI) are in the process of resolving the issues faced by the real estate sector.
Meanwhile, Asian shares were little changed as investors awaited new developments toward scaling back a protracted trade war between the United States and China. Japan's Nikkei stock index rose by 0.22 per cent, Hong Kong's Hang Seng by 0.02 per cent and South Korea`s Kospi by 0.07 per cent.