Buying in market heavyweight stocks Infosys, ICICI Bank and Tata Consultancy Services also helped markets settle in the positive territory.
The 30-share BSE Sensex jumped 670.31 points or 1.02 per cent to hit its all-time intra-day peak of 66,064.21. The barometer settled 164.99 points or 0.25 per cent higher at 65,558.89.
The NSE Nifty went up by 29.45 points or 0.15 per cent to close at 19,413.75. During the day, it rallied 182.7 points or 0.94 per cent to reach its lifetime high of 19,567.
From the Sensex pack, Tata Consultancy Services, Infosys, Bajaj Finserv, Tech Mahindra, ICICI Bank, Axis Bank, Wipro and Bajaj Finance were among the major gainers.
TCS climbed 2.47 per cent a day after announcing its June quarter earnings.
The country’s largest IT services company on Wednesday reported a 16.83 per cent increase in June quarter net profit to ₹11,074 crore but sounded circumspect about growth prospects for the fiscal due to market uncertainties.
Power Grid, Maruti, NTPC, Reliance Industries, Hindustan Unilever and Nestle were among the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the green.
Equity markets in Europe were trading with gains. The US markets ended in positive territory on Wednesday.
Retail inflation rose to a three-month high in June on rising prices of kitchen essentials, while the factory output expanded at a faster pace of 5.2 per cent in May, according to the government data released on Wednesday.
Retail inflation based on Consumer Price Index (CPI) increased to 4.81 per cent in June after declining for four months in a row but remained within the comfort zone of the Reserve Bank.
