Sensex, Nifty recover losses to end strong

NEW DELHI: Equity indices Sensex and Nifty overcame an early trade slump gain close to half a per cent each.
The 30-share BSE index gained 147 points to close at 38,389.82. The gauge had lost as much as 150 points in morning trade, but firmed up during mid-day as auto and metal stocks rallied.
The broader 50-share Nifty too had slipped below the key 11,500-mark early on, before regaining the mark and closing at 11,589.10, up 52.20 points.
The Nifty Auto and Nifty Metal sub-indices gained 2.20 per cent and 1.86 per cent, respectively.
Bajaj Auto led the gains after the government said it would exempt all alternate fuel vehicles from getting permits. The company announced plans to raise its 3-wheeler and quadricycle production capacity shortly after the government’s decision.
Hero MotoCorp, Mahindra & Mahindra and Bharti Airtel were among other major gainers.