Equity benchmarks Sensex and Nifty continued their upward journey in the opening session on Wednesday, propped up by significant gains in financial stocks.

The BSE barometer Sensex was trading higher by 411.23 points or 0.82 per cent at 50,708.12 in early session, and the Nifty was up 124.65 points or 0.84 per cent at 15,043.75.

The Sensex rally was driven by HDFC, SBI, Bajaj Finance, Axis Bank, IndusInd Bank, L&T and ICICI Bank spurting as much as 1.4 per cent.

Of the Sensex constituents, 25 traded in the green.

On Tuesday, the Sensex had rallied 447.05 points or 0.90 per cent, and the Nifty had jumped 157.55 points or 1.07 per cent, extending gains for the second day in a row.

Foreign investors bought equities worth a net Rs 2,223.16 crore in Indian capital markets on Tuesday, exchange data showed.

Elsewhere in Asia on Wednesday, stocks were trading higher in afternoon deals despite an overnight retreat on Wall Street.

Meanwhile, Brent Futures rose 0.64 per cent to trade at 63.02 per barrel.