BSE Sensex off lows on Europe, rupee

The recovery came even as MSCI's broadest index of Asia-Pacific shares outside Japan reversed early gains to slip 0.7 percent, hitting its lowest since late December.

Lenders State Bank of India and HDFC Bank (HDBK.NS) led the gainers.

Tata Steel (TISC.NS) shares were also up on bargain hunting after the stock's large underperformance so far in May.

Shares in the steel producer have fallen 14 percent so far in May compared to a 6.3 percent decline in the benchmark index in the same period.

The BSE Sensex was down 0.1 percent, recovering 0.6 percent from the day's low. The Nifty was down 0.15 percent.