Mumbai: The BSE benchmark Sensex recovered by nearly 164 points in opening trade on Wednesday, with auto stocks leading the rise after Hero MotoCorp posted better-than- expected second quarter earnings.

A firming trend on Asian bourses in tandem with overnight gains in the US also buoyed the trading sentiment.

The 30-share BSE index, which has lost over 334 points in the past two sessions, rose by 163.73 points, or 0.98 percent, to 16,912.02 in opening trade on Wednesday.

In a similar fashion, the wide-based National Stock Exchange Nifty index rose by 48.00 points, or 0.95 percent, to 5,085.50.

Stockbrokers said a fresh spell of buying by funds and retail investors after the country's largest two-wheeler maker Hero MotoCorp reported a 19.39 percent jump in net profit for the quarter ended September 30 helped boost the trading sentiment. Stocks of Hero MotoCorp were up by almost 5 percent at Rs 2,084 in opening trade.

In addition, a firming trend on other Asian bourses following overnight gains in the US market also had a positive impact, they said.

In the Asian region, Japan's Nikkei Index rose by 0.76 percent and Hong Kong's Hang Seng Index by 1.79 percent in early trade on Wednesday. The US Dow Jones Industrial Average ended 1.58 percent higher in Tuesday's trade.

(Agencies)