Equity

The Indian rupee lost momentum in opening trades on Thursday tracking waning risk sentiment globally amid uncertainty surrounding US-Iran ceasefire. Oil firmness, dollar rebound and weak cues from local equities following a sharp spike in the previous session are weighing down the unit. INR opened at Rs Rs 92.63 per dollar and hit a low of 92.71 so far during the day. Yesterday, the counter settled at 92.54. Indian shares opened a tad lower on Thursday as oil prices rebounded amid confusion over the U.S.-Iran truce terms. Asian markets are trading mostly lower despite the broadly positive cues from Wall Street overnight, as traders remained cautious after renewed Israeli strikes on Lebanon raised doubts about the durability of a fragile two-week Middle East ceasefire agreed upon by the U.S. and Iran. Meanwhile, in its latest April 2026 South Asia Economic Update, the World Bank has upgraded India's GDP growth forecast for the fiscal year 2026-27 (FY27) to 6.6%, up from an earlier estimate of 6.3%. Despite a projected slight moderation from the 7.6% growth expected in FY26, India remains the fastest-growing major economy globally, the World Bank noted.