Indian stocks ended at a record close on Wednesday led by gains in financials and auto stocks. Heavyweights Larsen & Toubro, Mahindra and Mahindra, ICICI Bank, Kotak Bank and Bajaj Finance contributed the most to the indices.

The BSE Sensex settled at a new closing high of 44,180 while the Nifty rose 64 points to its fresh closing high of 12,938. Broader markets were also positive for the day with the Nifty Midcap and Nifty Smallcap indices up 1.4 percent and 0.3 percent, respectively.

Among sectors, Nifty Auto rose the most, up 3 percent led by Mahindra and Mahindra. Meanwhile, the bank and fin services indices added 1.9 percent and 1.3 percent, respectively. However, Nifty FMCG and Nifty IT lost around a percent each and Nifty Pharma was down 0.6 percent.

Mahindra and Mahindra, Tata Motors, Bajaj Finserv, L&T, and IndusInd Bank were the top gainers on the Nifty50 index while BPCL, HUL, Dr Reddy's, Hero Moto, and Bharti Airtel led the losses. Mahindra and Mahindra shares surged nearly over 10 percent after the company said it will make new K2 series tractors in Telangana.

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