Mumbai, June 25 -- The Indian rupee gave up its gains and settled for the day lower by 2 paise at 86.07 (provisional) against the US dollar on Wednesday, on recovery in global crude oil prices and the US Dollar index. A strong show in the domestic equity markets prevented steep losses in the local unit. Indian shares rose sharply on Wednesday as the fragile Iran-Israel truce took hold and balanced comments from Federal Reserve Chair Jerome Powell prompted traders to price in two Fed cuts by the end of 2025, with a first move in September far more likely than next month. The benchmark 30-share BSE Sensex jumped 700.40 points, or 0.85 percent, to 82,755.51, with IT, media and rate-sensitive auto stocks pacing the gainers. The broader NSE Ni...