INR opens slightly higher amid positive equities and dollar pullback overseas

The Indian rupee is staying in a tight range in opening trades on Wednesday, supported by positive start in local equities and retreating dollar overseas. However, rebound in oil prices are limiting gains in the counter. INR opened at Rs 89.24 per dollar and hit a high of 89.19 so far during the day. Yesterday, rupee pared initial gains and settled 4 paise lower at 89.20 against the greenback, weighed down by negative cues from domestic equity markets. Indian shares drifted lower as continued selling by foreign investors offset positive cues from global markets. The benchmark BSE Sensex swung between gains and losses before closing down 313.70 points, or 0.37 percent, at 84,587.01, dragged down by IT and media stocks. The broader NSE Nifty index dropped 74.70 points, or 0.29 percent, to 25,884.80.

Powered by Capital Market - Live News