Mumbai, Apr 8 (IANS): The Indian equity indices pared initial losses on Wednesday, with the BSE Sensex gaining over 700 points.

This is the second day of market rally, after the domes indices recorded the biggest single day gain on Tuesday.

The gains were supported by buying activity across sectors led by healthcare, banking and auto indices.

At 10.55 am, Sensex was trading at 30,772.23, higher by 705.02, or 2.34 per cent from the previous close of 30,067.21.

It had opened nearly 300 points lower at 29,701.92 and so far has touched an intra-day low of 29,602.94. So far it has touched an intra-day high of 31,227.97.

The Nifty50 on the National Stock Exchange was trading at 8,978.90, higher by 186.70 points or 2.12 per cent from its previous close.

Among the Sensex stocks, IndusInd Bank, HDFC, Maruti Suzuki, Mahindra & Mahindra and NTPC gained the most, while TCS, ITC, Titan Company and Reliance Industries were the only losers.