INR lingers around one-month low

Likelihood of positive opening in domestic equities and dollar near a two-week low could provide some support to the Indian rupee in opening trades on Wednesday although recovery in international oil prices may limit gains in the unit. Yesterday, rupee extended slide to settle for the day near a one-month low of 86.36 against the US dollar, amid uncertainty over the US-India trade deal ahead of the August 1 deadline. All eyes are now on the outcome of India-US trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws near. Indian shares also ended a choppy session slightly lower on Tuesday due to prevailing uncertainty regarding an interim trade deal between the U.S. and India. The benchmark S&P/BSE Sensex swung between gains and losses before ending down 13.53 points at 82,186.81. The broader NSE Nifty index slipped 29.80 points, or 0.12 percent, to 25,060.90.

Powered by Capital Market - Live News