Nifty ends above 10k for first time ever, Sensex closes at record high too

Benchmark indices ended the day higher with Nifty50 settling above the 10,000-mark for the first time. Sensex, too, ended at fresh closing high for the day led mainly by gains in metal, pharma stocks.

Expectations of a better earnings season with improving economic indicators have increased investor confidence, extending a record-setting rally this year, although high valuations are seen capping gains in the near term.

The Nifty has hit a string of record highs this year and is Asia's third best-performing index this year with a 22% gain.

Street also awaited the outcome from the Federal Reserve meet, which ends later on Wednesday, and is widely expected to keep interest rates unchanged.

With a rate hike not in the picture this time, the focus will be on the Fed's statement, with markets looking for signs of when the US central bank will begin paring its massive bond holdings and next raise rates.

National Stock Exchange of India Ltd (NSE)