The Indian stock markets showed signs of recovery and opened on a positive note in early morning trade on Wednesday, a day when the Reserve Bank of India's Monetary Policy Committee (MPC) is expected to meet for policy review. The RBI, meeting amid a global market storm, is widely expected to keep policy rate unchanged.
Meanwhile, the Sensex of the BSE after opening at 34,563.30 points, touched a high of 34,666.33 points and a low of 34,464.91 points. The broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 10,607.20 points after closing at 10,498.25 points.
SBI, Adani Ports, Dr Reddy's Labs and Aurobindo Pharma rallied in green at opening bell. Tata Chemicals, Dish TV, Jaypee Infratech and Thermax gained one to five per cent.
NTPC, Eicher Motors, HDFC Bank, Lupin, on the other hand, were down about one per cent.
The Indian rupee opened higher by 12 paise at Rs. 64.12 per dollar versus Rs. 64.24 on Tuesday.
Earlier in the day, Dow Jones closed up 567.02 points to 24,912.77.
The S&P 500 gained 46.2 points to 2,695.14, recovering from the biggest one-day decline in the index in more than six years on February 5.
The Nasdaq Composite too added 148.36 points, closing at 7,115.88.
The Asian markets too came back from the brink, following a hefty bounce in the Wall Street.
Japan's Nikkei rose 2.9 percent, and Hong Kong's Hang Seng Index rose 2.68 per cent.