The Sensex is up 151.63 points at 29156.29, and the Nifty is up 46.25 points at 8808.35. About 649 shares have advanced, 146 shares declined, and 119 shares are unchanged.
Sesa Sterlite, Tata Power, SBI, M&M and ONGC are top gainers in the Sensex.
The Indian rupee gained in the early trade. It has opened higher by 20 paise at 62 per dollar versus 62.20 Tuesday.
The dollar edges lower against the yen and euro early after Federal Reserve Chair Janet Yellen held back from giving a clear view on when the Fed may begin raising interest rates.
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