Equity benchmark Sensex jumped 194 points to close at a fresh record on Wednesday, tracking gains in index heavyweights HDFC twins, Tata Steel and ICICI Bank.
Closing above the 53,000 marks for the first time, the 30-share BSE index jumped 193.58 points or 0.37 percent to 53,054.76.
Similarly, the broader NSE Nifty rose 61.40 points or 0.39 percent to its fresh record peak of 15,879.65.
Tata Steel was the top gainer in the Sensex pack, rallying over 4 percent, followed by Bajaj Finserv, IndusInd Bank, HDFC, Nestle India, Asian Paints, and Sun Pharma.
On the other hand, Titan, Maruti, Reliance Industries, and Tech Mahindra were among the laggards.
"Markets bounced back into the positive terrain in afternoon trade led by metal stocks. Cabinet reshuffle today created interest amongst market participants as we saw some hectic activity in smaller private sector banks," said S Ranganathan, Head of Research at LKP Securities.
Elsewhere in Asia, bourses in Hong Kong, Seoul, and Tokyo ended in the red, while Shanghai was positive.
Equities in Europe were trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 1.64 percent to USD 75.75 per barrel.