Benchmark Sensex climbed 354 points to close above the record 75,000 mark for the first time while broader Nifty scaled a fresh lifetime high on Wednesday on gains in FMCG, energy and metal shares.

The 30-share BSE Sensex climbed 354.45 points or 0.47 per cent to settle at an all-time high of 75,038.15. During the day, the index spurted 421.44 points or 0.56 per cent to hit a high of 75,105.14.

Broader Nifty of the NSE advanced by 111.05 points or 0.49 per cent to close at a record peak of 22,753.80. During the day, it jumped 132.95 points or 0.58 per cent to reach a lifetime intra-day peak of 22,775.70.

Key indices hit intra-day lifetime high levels on Tuesday with Sensex scaling the historic 75,000 mark for the first time but closed in the red following profit booking in index major Reliance Industries.

"Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts," Vinod Nair, Head of Research, Geojit Financial Services said.

Investors' attention remains fixated on the release of the FOMC minutes and US inflation data later on Wednesday, Nair added.

From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers.

Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.

The majority of sectors were aligned with the move wherein FMCG, metal and energy were among the top gainers. The broader indices also edged higher after two days of pause and gained in the range of 0.7 -0.9 per cent, Ajit Mishra, SVP - Technical Research, Religare Broking Ltd said.

In Asian markets, Tokyo and Shanghai settled lower while Hong Kong ended in the positive territory. Markets in South Korea were closed for elections.

European markets were trading in the green. Wall Street ended mostly with gains on Tuesday.

Global oil benchmark Brent crude climbed 0.18 per cent to USD 89.58 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 593.20 crore on Tuesday, according to exchange data.

The BSE benchmark declined 58.80 points or 0.08 per cent to settle at 74,683.70 on Tuesday. The NSE Nifty dipped 23.55 points or 0.10 per cent to 22,642.75.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.