Mumbai: The BSE benchmark Sensex rose by almost 162 points on Wednesday in opening trade on the back of positive Q2 earnings results from IT bellwether Infosys.

The 30-share index, which lost 20.76 points in the previous session, shot up by 162.10 points, or 0.98 percent, to 16,698.57 in the first five minutes of trade on Wednesday, with IT, tech, metal and banking sector stocks leading the rise.

Similarly, the broad-based National Stock Exchange Nifty index rose by 48.75 points, or 0.98 percent, to 5,023.10.

Analysts said keen buying interest from foreign funds, coupled with a firming trend in other Asian markets, led to the rise in the stock market.

They said IT stocks were in the limelight after Infosys' consolidated Q2 net profit rose by 9.72 percent to Rs 1,906 crore.

Meanwhile, Hong Kong's Hang Seng index was up by 0.46 percent, while Japan's Nikkei Index was down 0.67 percent in morning trade.