Mumbai, Oct 11 (IANS): A benchmark index for Indian equities Tuesday slipped from its early highs but still managed to hold on to some gains amid positive cues from other Asian markets.

The 30-scrip sensitive index (Sensex) of the BSE opened at 16,668.15 points and was ruling at 16,635.54 points -- up 78.31 points or 0.47 percent from its previous close at 16,557.23 points.

It had risen almost 217 points in the morning.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also managed to stay in the positive and was trading 0.47 percent or 23.2 points up at 5,002.8 points.

Broader markets were also in the green. The BSE midcap index was up 1 percent while the BSE small cap index was ruling 0.82 percent up. The BSE 500 was trading 0.72 percent higher.

The market breadth at the BSE was positive with 1,601 stocks on the advance, compared to 850 declining and 111 remaining unchanged.

Some of the top gainers on the Sensex at this time were Bharti Airtel, Tata Motors, L&T and HDFC Bank, while losers were led by the three software biggies Infosys, Wipro and TCS.

Asian markets were ruling higher buoyed by China's decision to support its stock markets by buying shares of banks, while hopes of a resolution in creating a fund for bailing out debt-ridden Euro zone economies gained strength.

Among Asian bourses, the Japanese Nikkei closed 1.95 percent up at 8,773.68 points, while Hong Kong's Hang Seng was trading 2.7 percent higher at 18,188.76 points.

The Chinese Shanghai composite index was trading dull at 2,349.44 points, up 0.2 percent.