The Indian rupee extends recovery momentum in opening trades on Thursday. Rupee opened at RS 88.09 and rebounded further to a high of 87.85 so far during the day. Yesterday INR recovered 9 paise from its all-time low level to settle at 88.06 against US dollar, on positive domestic equities, softening of crude oil prices and weak US dollar index. Indian shares closed higher despite weak cues from global markets as investors grappled with rising bond yields and renewed trade uncertainty. The benchmark BSE Sensex ended the session up 409.83 points, or 0.51 percent, at 80,567.71, after hitting a low of 80,004 earlier. The broader NSE Nifty index hit an intraday low of 24,533 before reversing course to end up 135.45 points, or 0.55 percent, at 24,715.05. Meanwhile, the GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.

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