INR settles higher as foreign fund investments lift investor sentiments

The Indian rupee appreciated 17 paise to settle for the day at 90.61 (provisional) against the US dollar on Thursday, as foreign fund investments lifted investor sentiments. However, domestic shares ended the session lower as IT stocks extended their slide from the previous session on renewed concerns about the disruption AI start-ups will have on established companies. The benchmark BSE Sensex dropped 558.72 points, or 0.66 percent, to 83,674.92 on its weekly derivatives expiry day. The broader NSE Nifty index fell 146.65 points, or 0.57 percent, to 25,807.20. Rising oil prices on heightened U.S.-Iran tensions also dented investor sentiment. At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar, and touched an intraday high of 90.40 and a low of 90.65 during the day.

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