The Indian rupee is likely to recover some lost momentum in opening trades on Thursday tracking a sharp decline in dollar overseas. Yesterday, INR depreciated marginally to 86.41 against the US dollar, amid outflow of foreign funds and higher international crude oil prices. However, positive local equities and broad dollar weakness limited fall in the counter. Indian shares rose notably on Wednesday, mirroring firm global cues after U.S. President Donald Trump announced trade agreements with Japan and the Philippines, easing concerns about the tariff war. The BSE Sensex surged 539.83 points, or 0.66 percent, to 82,726.64 while the broader NSE Nifty index closed up 159 points, or 0.63 percent, at 25,219.90.
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