The Indian rupee is seen cautiously recovering near record low levels from the slightest of positive cues from local equities. However, overseas investors continue to remain net sellers of Indian equities for the 21st consecutive session on Monday and offloaded shares worth approximately Rs 3,228.1 crore, weighing down sentiments for the domestic unit. Yesterday, rupee traded on a flat to positive note and settled 1 paisa higher at 84.07 against the US dollar, on positive domestic markets and a sharp decline in crude oil prices. Indian shares rose notably on Monday as concerns over Middle East tensions eased and oil prices plummeted nearly 6 percent to hit four-week lows in European trade. The benchmark S&P/BSE Sensex rose 602.75 points, or 0.76 percent, to 80,005.04, snapping a week-long losing streak on the back of gains across the board. The broader NSE Nifty index closed up 158.35 points, or 0.65 percent, at 24,339.15, even as a firmer dollar and higher U.S. Treasury yields triggered some profit taking at higher levels.

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