Mumbai (Agencies): Bombay Stock Exchange benchmark Sensex climbed over 72 points in opening trade on Wednesday due to sustained buying by funds, with Tata Steel attracting the most interest after it posted strong earnings results for the third quarter.

The Sensex rose by 72.30 points, or 0.40 per cent, to 18,346.10 points. Similarly, National Stock Exchange Nifty index gained 10.70 points, or 0.19 per cent, to 5,491.70 in opening trade on Wednesday.

According to traders, in addition to the strong corporate earnings posted by Tata Steel, continued short-covering by speculators also buoyed the sentiment, helping the Sensex maintain its upward journey.

Stocks of Tata Steel rose by 2.19 per cent to Rs 630.05 after the company posted an over two-fold jump in consolidated net profit to Rs 1,003.02 crore for the quarter ended December 31, 2010.