Commodity

The Indian rupee is likely to come under severe pressure in opening trades on Friday amid waning risk appetite that is dragging equities sharply lower. Besides, dollar index futures hovering around 106 mark and elevated crude oil prices are also expected to dampen sentiment for the local unit. Yesterday, rupee recovered against the dollar as the American currency and international crude oil prices retreated from their elevated levels. Rupee rebounded from its all-time low levels and appreciated 6 paise to close at 83.55 (provisional) against the US dollar on Thursday. Meanwhile, Indian shares extended losses for a fourth day running on Thursday due to heightened tensions in the Middle East and concerns about the outlook for U.S interest rates. The benchmark S&P BSE Sensex ended the session down 454.69 points, or 0.62 percent, at 72,488.99 after having rallied over 500 points to a high of 73,473 earlier in the day. Likewise, the broader NSE Nifty index hit an intraday high of 22,326 before reversing course to finish down 152.05 points, or 0.69 percent, at 21,995.85.

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