Sensex zooms 700 points, RIL up 2% (2nd Ld)

The Indian equity indices continued their upward trajectory during the afternoon trade on Tuesday, with the BSE Sensex gaining over 700 points.

The across-the-board rise was led by healthy buying activity in auto, finance, capital goods and oil and gas stocks

Surge in the index-heavyweights Reliance Industries (RIL) and HDFC led the rise on Sensex.

Around 1.25 p.m., Sensex was trading at 49,298.44, higher by 734.17 points or 1.51 per cent from its previous close of 48,564.27.

It has so far touched an intra-day high of 49,312.97 points.

The Nifty50 on the National Stock Exchange (NSE) was trading at 14,490.60, higher 209.30 points or 1.47 per cent from its previous close.

RIL shares on the BSE reclaimed the Rs 2,000 mark on Tuesday. Around 1.25 p.m., RIL shares were trading at Rs 2,026.80, higher by Rs 43.30 or 2.18 per cent.

Shares of HDFC were trading at Rs 2,633.15, higher by Rs 66.75 or 2.60 per cent.