Mumbai: The BSE benchmark sensex failed to maintain earlier gains but was quoted higher by 52 points in the late morning trade on persistent buying mainly in auto, capital goods, PSU, banking, healthcare and refinery counters on the back of higher Asian cues.

Key benchmark indices edged higher in early trade to hit their highest level in more than two-and-a-half weeks on mostly higher Asian stocks. The 50-unit S&P CNX Nifty regained psychological 5,000 mark.

The market may remain volatile this week as traders roll over positions from the near-month May series to June series. The May derivatives contracts will expire on coming Thursday.

The BSE benchmark Sensex resumed higher at 16,500.04 and moved up further to 16,505.35, but declined afterwards to 16,410.23 before quoting at 16,468.99 at 1030 hrs, showing a net gain of 52.15 points of 0.32 per cent from its last close.

The NSE 50-share Nifty also moved up by 13.35 points of 0.27 per cent to 4,999.00 at 1030 hrs.

Major gainers were Maruti Suzuki (1.75 pct), Tata Motors (1.59 pct), BHEL (1.40 pct), Coal India (1.24 pct), Gail India (1.22 pct) and SBI (0.70 pct).

Asian stocks rose for the second day in a row after opinion polls in Greece showed a lead for a party favouring the country's economic bailout in upcoming elections and amid expectations for a policy stimulus in China to support growth.

Key benchmark indices in China, Singapore, Hong Kong, Taiwan and South Korea were up by 0.29 per cent to 2.39 per cent while indices in Indonesia and Japan fell by between 0.02 per cent and 0.4 per cent.