Equity

The Indian rupee witnessed good recovery in opening trades on Tuesday following a sharp slide beyond Rs 94 per dollar mark in the previous session. INR opened at Rs 93.66 per dollar but edged lower to a low of 93.74 so far during the day. Sharp retreat in oil prices yesterday lent some support to rupee although firmness in dollar and a rebound in oil prices early today could limit gains in the counter. Sustained foreign fund outflows amid dented investor sentiments are also not auguring well for the Indian currency that fell by over 2.5% so far this month alone. Meanwhile, Indian benchmark indices have rebounded sharply following a massive sell-off in the previous session with the Nifty closing near 22,512.65 (-2.60%) and the Sensex crashing 1,836.57 points to 72,696.39 (-2.46%) yesterday.

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