The Indian rupee is likely to lose momentum in opening trades on Wednesday tracking muted cues from equities as investors weigh trade uncertainties against Ukraine's acceptance of a U.S. proposal for a ceasefire with Russia. Small uptick in greenback overseas coupled with climbing international crude oil prices could also weigh on the currency. The dollar index however continues to stay around multi-month lows. Yesterday, rupee recovered some of its lost momentum and settled with a gain of 10 paise at 87.21against the US dollar. The US dollar index slumped adding to recent losses and testing fresh four month low. Meanwhile, the benchmark 30-share BSE Sensex hit an intraday low of 73,663.60 before cutting losses to end the session down 12.85 points at 74,102.32. The broader NSE Nifty index ended up 37.60 points, or 0.17 percent, at 22,497.90, after having fallen to 22,314.70 earlier. Cues from India's retail inflation data for February and industrial production figures for January due later in the day is keenly awaited.

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