Mumbai: The BSE benchmark Sensex rose by over 170 points in opening trade on Tuesday on sustained buying by funds and retail investors, tracking firm global cues.

The 30-share BSE index, which has gained 764.82 points over the past two trading sessions, rose by another 170.39 points, or 1.02 percent, to 16,727.62 points in the first five minutes of trade on Tuesday, backed by consumer durables, banking, metal and realty stocks.

Likewise, the wide-based National Stock Exchange Nifty index moved up by 51.35 points, or 1.03 percent, to 5,030.95.

Brokers said a firming trend overseas and speculative buying ahead of the quarterly earnings season mainly buoyed the trading sentiment here.

Meanwhile, in Asia, Hong Kong's Hang Seng Index was up by 2.96 percent, while Japan's Nikkei Index rose by 1.98 percent in early trade. In the US, the Dow Jones Industrial Index closed 2.97 percent higher on Monday.