Rupee depreciates 10 paise against USD; falls below 71 mark


New Delhi,  The rupee depreciated by 10 paise and fell below the 71 per dollar mark in opening trade Tuesday amid strengthening greenback, sustained foreign fund outflows and surging crude oil prices.At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.79 then fell further to 71.02 against the American currency, down by 10 paise over its previous closing price.In highly volatile trade, the local currency also touched a high of 70.75 per US dollar, showing a rise of 17 paise over its last close.

The rupee Monday plunged 43 paise to close at nearly one-month low of 70.92 against the US dollar. — PTI09:57  Sensex rallies over 300 points; Nifty reclaims 10,800 mark: The BSE benchmark Sensex Tuesday rallied over 300 points tracking positive cues from other Asian markets amid heavy buying by domestic institutional investors.Market sentiment was also upbeat after government data revealed that retail inflation dropped to an 18-month low of 2.19 per cent in December 2018, creating headroom for the RBI to cut interest rate in its monetary policy review next month.

The 30-share index Jumped 328.44 points, or 0.92 per cent, to 36,182 in early trade. Similarly, the NSE Nifty reclaimed the 10,800 mark by rising 93.65 points, or 0.87 per cent, to 10,831.25.On Monday, after a volatile session, the Sensex had settled 156.28 points, or 0.43 per cent, down at 35,853.56, while the Nifty fell 57.35 points, or 0.53 per cent, to finish at 10,737.60.In the morning session on Tuesday, the biggest gainers in the Sensex pack were Yes Bank, Reliance, Infosys, Bajaj Auto, Asian Paints, ONGC, Bajaj Finance, SBI and TCS, surging up to 2 per cent.

While, Bharti Airtel was the only loser in the index, down 0.44 per cent.According to analysts, quarterly numbers and management commentary from India Inc will be keenly watched by market participants, and will play a crucial role in further upside.Besides positive cues from other Asian markets, investor mood was boosted by encouraging macroeconomic numbers released on Monday. Retail inflation declined to an 18-month low of 2.19 per cent in December 2018 mainly on account of sliding prices of fruits, vegetables and fuel.