Mumbai: The key Indian equity indices surged on Tuesday with the BSE Sensex rising nearly 800 points during the initial trade.

The rise in the domestic indices was on the back of a similar trend in the Asian markets. Global markets surged after the US Federal Reserve on Monday announced its plan to buy individual corporate bonds.

Healthy buying was witnessed in banking and finance stocks.

Few minutes into the trade, Sensex rose 793.21 points to touch an intra-day high of 34,022.01.

Around 10.05 a.m., it was trading at 33,800.26, higher by 571.46 points or 1.72 per cent from its previous close of 33,228.80.

It opened at 33,853.72 and has so far touched an intra-day low of 33,790.02 points.

The Nifty50 on the National Stock Exchange (NSE) was trading at 9,980.00, higher by 166.30 points or 1.69 per cent from its previous close.