Mumbai, Sep 14 (IANS): A benchmark index for Indian equities markets Wednesday rose sharply in the afternoon, as buying picked with IT and telcom stocks leading. Globally, however, markets were trading with a negative bias affected by the Greek debt crisis.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,552.71 points, was ruling at 16,657.76 points, up 190.32 points or 1.16 percent from its previous close at 16,467.44 points.

It had slipped to 16,387.38 points in the morning.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too was trading higher at 5,004.25 points, up 1.28 percent.

Broader markets were also ruling dull with the BSE 100 index up 0.4 percent. IT, telecom, metals and auto stocks were on the rise, while capital goods declined.

The market breadth was positive with 1,376 stocks advancing, compared to 1,173 on the decline and 107 remaining unchanged.

Sensex gainers at this time included Infosys, TCS, Bajaj Auto and Hindustan Unilever, while the losers included Tata Power, L&T, Bharti Airtel and Hero MotoCorp.

Global markets were depressed as traders feared of a debt default by Greece, which could have wider implications for other troubled economies in the Euro zone.

Japan's Nikkei closed 1.14 percent lower at 8,518.57 points, while Hong Kong's Hang Seng index was trading 1.23 percent lower at 18,796.84 points.

Reopening after a holiday, Chinese markets nudged up Wednesday. The Shanghai Composite index closed 0.55 percent higher at 2,484.83 points.

European bourses too opened in the red Wednesday.

Britain's FTSE was down 0.4 percent at 5,153.53 points, the German DAX was trading 0.96 percent down at at 5,116.72 points.

The French CAC 40 shed 1.15 percent to rule at 2,861.56 points.