The Indian rupee came under pressure in opening trades on Wednesday as sentiments stay bleak amid ongoing conflicts in Middle East. INR opened at Rs 91.92 per dollar and hit a low of 91.97 so far during the day. Rupee staged a strong recovery from its record low against the US dollar on Tuesday, gaining 36 paise to settle at 91.85, aided by a sharp fall in global crude oil prices over hopes of de-escalation of the ongoing conflict in West Asia. Sharp gains in the domestic equity markets, along with a weaker greenback, provided further support to the domestic unit. Indian shares rebounded from recent string of losses on Tuesday amid hopes of an easing of tensions in the U.S.-Iran conflict. The Sensex jumped 639.82 points or 0.82 percent to settle at 78,205.98. During the day, it surged 960.09 points or 1.23 percent to 78,526.25. The Nifty climbed 233.55 points or 0.97 percent to end at 24,261.60. Indian shares opened on a flat note Wednesday as investors clung to hopes for a de-escalation in the Middle East conflict and watch closely movements in crude prices.
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