diff --git a/ext/standard/streamsfuncs.c b/ext/standard/streamsfuncs.c
index 8fe7b2d2253..683932216da 100644
--- a/ext/standard/streamsfuncs.c
+++ b/ext/standard/streamsfuncs.c
@@ -694,13 +694,15 @@ static int stream_array_emulate_read_fd_set(zval *stream_array)
 	HashTable *ht;
 	php_stream *stream;
 	int ret = 0;
+	zend_ulong num_ind;
+	zend_string *key;
 
 	if (Z_TYPE_P(stream_array) != IS_ARRAY) {
 		return 0;
 	}
 	ht = zend_new_array(zend_hash_num_elements(Z_ARRVAL_P(stream_array)));
 
-	ZEND_HASH_FOREACH_VAL(Z_ARRVAL_P(stream_array), elem) {
+	ZEND_HASH_FOREACH_KEY_VAL(Z_ARRVAL_P(stream_array), num_ind, key, elem) {
 		ZVAL_DEREF(elem);
 		php_stream_from_zval_no_verify(stream, elem);
 		if (stream == NULL) {
@@ -713,10 +715,12 @@ static int stream_array_emulate_read_fd_set(zval *stream_array)
 			 * This branch of code also allows blocking streams with buffered data to
 			 * operate correctly in stream_select.
 			 * */
-			dest_elem = zend_hash_next_index_insert(ht, elem);
-			if (dest_elem) {
-				zval_add_ref(dest_elem);
+			if (!key) {
+				dest_elem = zend_hash_index_update(ht, num_ind, elem);
+			} else {
+				dest_elem = zend_hash_update(ht, key, elem);
 			}
+			zval_add_ref(dest_elem);
 			ret++;
 			continue;
 		}
diff --git a/ext/standard/tests/streams/stream_select_preserve_keys.phpt b/ext/standard/tests/streams/stream_select_preserve_keys.phpt
new file mode 100644
index 00000000000..390709faf41
--- /dev/null
+++ b/ext/standard/tests/streams/stream_select_preserve_keys.phpt
@@ -0,0 +1,35 @@
+--TEST--
+Bug #53427 + emulate_read (stream_select does not preserve keys)
+--FILE--
+<?php
+$read[1] = fopen(__FILE__, 'r');
+$read['myindex'] = reset($read);
+$write = NULL;
+$except = NULL;
+
+var_dump($read);
+stream_select($read, $write, $except, 0);
+var_dump($read);
+fread(reset($read), 1);
+stream_select($read, $write, $except, 0); // // emulate_read
+var_dump($read);
+?>
+--EXPECTF--
+array(2) {
+  [1]=>
+  resource(%d) of type (stream)
+  ["myindex"]=>
+  resource(%d) of type (stream)
+}
+array(2) {
+  [1]=>
+  resource(%d) of type (stream)
+  ["myindex"]=>
+  resource(%d) of type (stream)
+}
+array(2) {
+  [1]=>
+  resource(%d) of type (stream)
+  ["myindex"]=>
+  resource(%d) of type (stream)
+}