INR marginally lower in opening trades

The Indian rupee is seen marginally lower in range bound trades against the dollar in opening trades on Monday. INR opened at 88.25 and sipped to a low of 88.30 so far during the day. On Friday, rupee recovered from all-time lows and settled for the day higher by 7 paise at 88.28 against the US dollar on , on weakness in the US dollar index and positive domestic markets. Indian shares rose on Friday as rising jobless claims coupled with in-line U.S. consumer price inflation data spurred expectations for more Federal Reserve rate cuts. The benchmark BSE Sensex rose 355.97 points, or 0.44 percent, to 81,904.70. The broader NSE Nifty index closed up 108.50 points, or 0.43 percent, at 25,114, extending its winning run to an eighth straight session. The domestic unit traded in a tight range and hovered around its all-time low level as tariff-led pressure on India's exports and sustained foreign fund outflows dented investor’s sentiments. Asian stock markets are trading mostly higher on Monday, following the mixed cues from Wall Street on Friday, as traders remain cautious ahead of the anticipated interest rate cut after recent US data signaled softer labor conditions and muted inflation. The escalating geopolitical concerns in the Middle East are also weighing on market sentiment.