Guptill hit 189, his maiden test century, and McCullum 185 as they shared a record stand of 339 for the sixth wicket before New Zealand declared at tea on the second day at 553 for seven.
By an early close forced by poor light Bangladesh, had quickly knocked 87 runs off the deficit for the loss of Imrul Kayes' wicket.
He was caught at slip for 28 off spinner Dan Vettori while his opening partner Tamim Iqbal reached stumps on 56, having raced to his half-century from just 39 balls, featuring three fours in one over from offspinner Jeetan Patel.
Guptill and McCullum had earlier ticked off a plethora of records in a magnificent partnership which represented the third highest sixth wicket stand in test history for any country and the third largest for any wicket for New Zealand.
McCullum, who hit 96 runs in the first session after resuming this morning on 58 with his side on 258 for five, advanced to the highest test score by a New Zealand wicketkeeper, surpassing the 173 scored by Ian Smith against India at Auckland in the 1989-90 season.
Guptill took guard this morning on 80 and, like McCullum, he reached three figures before lunch against a tiring Bangladeshi attack missing the sting evident yesterday.
They continued to prosper after lunching at 432 for five, adding another 65 runs to the tally while barely playing a false stroke between them before McCullum's dismissal.
Guptill followed soon after, an attempt pull off Rubel presenting wicketkeeper Mushfiqur Rahim with a thin top edge after the Aucklander had hit 18 fours and one six in a stay of 442 minutes.
It also presented 20-year-old Rubel with his first five-wicket haul in his fifth test and he ended the innings with figures of five for 166 off 29 overs.
