The Indian rupee recovered slightly from its record low and settled with a gain of 4 paise at 85.87 (provisional) against the US dollar on Thursday. The currency is seen attempting to recover from of its recent losses that came on account of firm American currency and elevated level of crude oil prices. Relentless selling in domestic equities and outflow of foreign capital also kept the local unit under pressure. Indian shares fell notably on Thursday amid concerns over a potential moderation in corporate earnings growth and the Federal Reserve's hawkish stance on rate cuts also dampened sentiment. The benchmark S&P/BSE Sensex fell by 528.28 points, or 0.68 percent, to 77,620.21 while the broader NSE Nifty index ended down 162.45 points, or 0.69 percent, at 23,526.50.
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