Domestic equity benchmarks (Sensex and Nifty) edged higher led by gains in Larsen & Toubro, HDFC, ITC, NTPC and HDFC Bank. The S&P BSE Sensex rose as much as 137 points or 0.36 per cent to 38,524.09 and the NSE Nifty 50 Index rose above its psychologically important level of 11,550 as the index advanced 0.39 per cent or 45 points to 11,566. In Wednesday's session, the Sensex and Nifty took a breather after a seven-day up move as they ended little changed owing to weekly expiry of derivative contracts.