Rupee gains 29 paise against dollar in early trade, but crude prices limit gains

The rupee opened higher against the US dollar, appreciating by 29 paise to a solid 94.62, fueled by foreign investments linked to the Jio IPO and backing from the Reserve Bank of India. Nevertheless, persistent crude oil price surges presented ongoing challenges for the currency. The domestic equity landscape also showed positivity, with the BSE Sensex recording substantial gains, even as foreign institutional investors stayed in a selling position.