INR recovers slightly in opening trades; All eyes on Budget

The Indian rupee recovered slightly in opening trades following sharp decline near Rs 92 per dollar mark during intraday moves in the previous session. INR opened at Rs 91.89 per dollar and climbed to a high of 91.82 so far during the day. Yesterday, rupee settled near its all-time closing low at 91.99 against the US dollar, amid selling pressure from foreign funds and risk-off sentiment in global markets. Moreover, surge in crude oil prices weighed on the rupee. Indian shares were moving lower in early trade on Friday as Apple warned of margin pressures and trade tensions returned to haunt investors. Benchmark indexes reversed early losses yesterday as the Economic Survey's First Advance Estimates put FY26 real GDP growth at 7.4 percent and Gross Value Added (GVA) growth at 7.3 percent, "reaffirming India's status as the fastest-growing major economy for the fourth consecutive year". "India is an oasis of economic performance in the global scenario. The growth numbers stand out in comparison to any other part of the world," Chief Economic Adviser V.A. Anantha Nageswaran said. The benchmark BSE Sensex gained 221.69 points, or 0.27 percent, to end the session at 82,566.37, after having fallen to a low of 81,707.94 earlier. The broader NSE Nifty index dipped to an intraday low of 25,159.80 before reversing course to close up 76.15 points, or 0.30 percent, at 25,418.90 ahead of the ahead of the Union Budget due this weekend.

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