Mumbai, Sep 7 (IANS): Positive global markets, coupled with lessened chances of a US rate hike buoyed the Indian equity markets during the early morning trade session on Wednesday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 10.70 points or 0.12 per cent to 8,953.70 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,035.67 points, traded at 29,028.50 points (at 9.25 a.m.) -- up 50.48 points or 0.17 per cent from the previous close at 28,978.02 points.

The Sensex has so far touched a high of 29,067.84 points and a low of 29,015.94 points during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls -- with 976 advances and 392 declines.

On Tuesday, both the key Indian indices had touched their 52-week high in almost 18 months and closed the day's trade in the green with gains of over 1.5 per cent each.

The barometer index had gained 445.91 points, or 1.56 per cent to 28,978.02 points, while the NSE Nifty surged 133.35 points or 1.51 per cent to 8,943 points.