Madrid winger Vinicius was racially abused by Valencia supporters during Los Blancos' defeat at Mestalla Stadium on Monday (AEST), with the winger then sent off.

With that red card rescinded, injury kept Vinicius from featuring against Rayo on Wednesday, though Karim Benzema's finish had seemingly set Madrid on their way to a comfortable victory.

Raul de Tomas' excellent strike pegged Madrid back, but Rodrygo lashed home in the 89th minute to lift Los Blancos, temporarily at least, into second place.

Rayo were the more threatening in the opening exchanges – Alvaro Garcia heading over between Unai Lopez and Santi Comesana forcing Thibaut Courtois into action.

Yet Madrid went ahead just after the half-hour mark as Rayo were caught napping at a drop-ball, which was taken quickly by Toni Kroos. Federico Valverde and Benzema combined brilliantly to put the latter through and, after coolly rounding Stole Dimitrievski, he tucked home.

Moments after an untimely slip from Rodrygo saw a golden chance go begging for Madrid, Dimitrievski brilliantly denied Benzema a second, instinctively sticking out a hand to keep a close-range shot out.

Dani Carvajal volleyed wide from Luka Modric's chip as Madrid looked to put the game to bed, a wise decision given their record of two defeats from their previous four meetings with Rayo.

Madrid's failure to add to their lead looked to have proved costly with six minutes remaining, substitute De Tomas thumping in a brilliant equaliser.

But Rodrygo had the last laugh with his powerful last-gasp strike, with the 22-year-old raising his right fist in a celebration synonymous with the "black power" salute.