Mumbai, March 2 (IANS) A benchmark index for Indian equities further built on its morning gains and was ruling over two percent higher about an hour before end of trade.

Auto stocks were among the key drivers of this rally with many such companies posting handsome February sales figures.

At 2.18 p.m. the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,438.45 points, was ruling at 16,764.97 points, 335.42 points or 2.04 percent higher than its previous close at 16,429.55 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,016.85 points against the previous close at 4,922.3 points, a gain of 1.92 percent or 94.55 points.

Broader markets too saw a buying spree with the BSE midcap index ruling 2.09 percent higher and the BSE small cap index 2.12 percent up.