Market up 53 pts in early trade

Sensex recovers after opening weak and gains 53 points during morning trading on fresh buying support.

The Bombay Stock Exchange (BSE) benchmark, Sensex, on Wednesday recovered after opening weak and was quoted 53 points up during morning trading on fresh buying support.

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The 30-share sensitive index (Sensex) opened weak at 10,990.73 points and later touched a low of 10,939.21 in the initial five minutes of trading.

The Sensex, however, bounced back and was quoted at 11,077.86 points at 1015 hrs, up 52.89 points over Tuesday's close of 11,014.97 points.

On the National Stock Exchange, the S&P CNX Nifty also firmed up by 12.60 points to 3,225.00 from previous close of 3,212.40.

Brokers expected sustained bull support with the US Federal Reserve breaking the more than a two-year-long string of interest rate hikes as anticipated.