The stock markets discounted global weakness and showed signs of consolidation at 15,500 level on Tuesday ahead of the crucial US Federal Reserve meeting.
The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, opened higher at 15,547.07 and later briefly fell to a low of 15,468.80 due to weakness in global markets.
However, the BSE barometer recovered later to a high of 15,575.54 and was quoted 58.55 points higher at 15,562.98 at 10.30 am over yesterday's close of 15,504.43.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) was up by 17.05 points to 4,511.70 at 10.30 am from previous close of 4,494.65.
Brokers said the market is expected to witness narrow movements in the light of the Fed's meeting, which is likely to take a decision on a rate cut.