Domestic stock markets recovered early losses on Wednesday in choppy trade, amid a cautious trend in Asian peers. The S&P BSE Sensex opened 28.83 points lower at 38,701.99, and moved in a range of 244.56 points in the first hour of trade, to touch 38,854.85 and 38,610.29 at the day's strongest and weakest points respectively. The NSE Nifty index moved between 11,516.30 and 11,593.10, as against its previous close of 11,555.90. Analysts awaited key macroeconomic data and corporate earnings announcements by large cap companies due this week.