Equity benchmark indices scaled fresh lifetime high levels on Wednesday led by heavy buying in IT, auto and public sector bank stocks. The BSE SandP Sensex closed 394 points or 0.8 per cent higher at 49,792 while the Nifty 50 advanced by 124 points or 0.85 per cent to 14,645. Except for Nifty FMCG, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT moving up by 2.2 per cent, auto by 2.4 per cent and PSU bank by 2.1 per cent. Among stocks, Tata Motors accelerated by 6 per cent to Rs 274.40 per share. Maruti Suzuki was up by 2.9 per cent and Mahindra and Mahindra by 2.2 per cent.