BSE's benchmark index Sensex touched a fresh high of 40,606.91 in afternoon trade on Wednesday, aided by gains in private bank stocks.
NSE's Nifty 50 touched an intraday high of 12,002.90.
Shares of Infosys Ltd gained after chairman Nandan Nilekani said that the company "strongly condemns the mischievous insinuations made by anonymous sources against the co-founders and former colleagues, suggesting their involvement in the recent whistleblower allegations."
The stock climbed close to 4 percent to Rs 721.50 to become the top gainer on Nifty and Sensex.
Among NSE's sectoral gauges, Nifty Realty Index was the top gainer at 2.58 percent after FM Nirmala Sitharaman said that the government is working with the Reserve Bank of India (RBI) to revive real estate sector.
Cipla was also among the biggest gainers on Wednesday. The stock rose 4.3 percent to Rs 487.95 on announcing positive Q2 results.
On the other hand, shares of Titan Company tanked by over 9 percent to Rs 1,158 on missing Q2 profit estimates due to higher employee benefit and finance costs. The country's largest jewellery maker also lowered its projections for jewellery sales growth for the second half of the 2019-20 to 11-13 percent.