INR off record lows amid a recovery in local stock markets

The Indian rupee saw cautious moves after falling near fresh time low and approaching 86 per US dollar mark in last session during intraday moves. INR currently quotes at 85.73 per US dollar, down 5 paise on the day. Local stocks edged up today after hefty losses in last session. Benchmark indices Nifty and Sensex rebounded, driven by gains in metal, energy, and oil and gas stocks. IT stocks faced selling pressure ahead Q3 earnings. On Monday, the benchmark indices tumbled 1.5 percent amid investor concerns over the Human Metapneumovirus (HMPV). Today, the BSE Sensex ended up 234.12 points or 0.30 percent at 78,199.11, and the NSE Nifty added 91.85 points or 0.39 percent at 23,707.90.

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