The Sensex ended 182 points higher at 40,652, while the Nifty50 index ended 59 points higher at 11,999.
Indian shares ended higher on Wednesday with the Nifty ending around 12,000-mark, mainly driven by Reliance Industries Ltd, which hit a 52-week high during the day and became the first Indian company to cross Rs 9.5 lakh crore.
Gains in other index heavyweights like IndusInd Bank, Sun Pharma, L&T, Maruti Suzuki and ICICI Bank also lifted the indices.
The Sensex ended 182 points higher at 40,652, while the Nifty50 index ended 59 points higher at 11,999. In intraday deals, the index rose 347 points to hit a fresh high of 40,816 as against the high of 40,749, hit on November 8.
The Nifty Midcap rose 0.2 percent, while the Nifty Smallcap index added 0.1 percent during the day.
Reliance Industries extended yesterday's gain to rise 2.5 percent after its telecom arm Reliance Jio said it will increase tariffs in the next few weeks. The sentiment was also lifted after global brokerage house Credit Suisse raised its target price to Rs 1,400 from Rs 1,210 earlier. In intra-day deals, the stock rose as much as 4.1 percent to hit its 52-week high of Rs 1,571.85 per share.
Major buying was seen in pharma, media, private banks and FMCG sectors. The Nifty Pharma and the Nifty Media indices rose over 3.2 percent each for the day, while the Nifty Private Bank index was up 0.75 percent. Meanwhile, the Nifty Bank and the Nifty FMCG added 0.3 percent each.
Among losers, the Nifty Realty index fell the most, down 1.5 percent, while the Nifty PSU Bank was down 0.7 percent.
Among stocks, Zee, Sun Pharma, IndusInd Bank, BPCL, and Dr Reddy's were the top gainers on the Nifty50, while Bharti Infratel, Kotak Bank, IOC, Eicher Motors, and Tata Steel led the losses.
: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.