INR ends lower amid negative cues from equities

The Indian rupee witnessed range-bound trade on Wednesday and settled for the day lower by three paise at 88.80 (provisional) against the US dollar, tracking a negative trend in domestic equities amid a rise in risk-off sentiments. Indian shares ended modestly lower on Wednesday, with benchmark indexes Sensex and Nifty snapping their four-day winning run as caution crept in ahead of the September-quarter earnings season. The benchmark BSE Sensex swung between gains and losses before closing down 153.09 points, or 0.19 percent, at 81,773.66. The broader NSE Nifty index dropped 62.15 points, or 0.25 percent, to 25,046.15. Meanwhile, the US dollar index is holding its ground above 98 mark. The rupee is likely to remain within a narrow range, supported by domestic triggers such as IPO-related inflows, and potential progress in USIndia trade talks could gradually tilt sentiment in the rupee's favour although rising international oil prices could weigh.

 

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