In its Global Economic Outlook, Fitch, however, flagged tightening of financial conditions, rising oil bill and weak bank balance sheets as headwinds to growth.

The forex reserves have been declining in the past few weeks as the Reserve Bank is selling the US dollar to contain rupee depreciation

On Tuesday, the rupee closed at its all time low of 72.98, falling 47 paise against the US currency due to surging crude oil prices and escalating trade war worries. Earlier in the day, the Indian currency hit a historic low of 72.99 in late afternoon deals.

Continuing its intermittent fall against the US dollar, the Indian rupee dived to another all-time low of 72.98 on Tuesday. The currency has lost over 13 per cent in value against the greenback since the beginning of the year.

World economy is still precariously poised, thanks to the tariff war.

The government has made a slew of announcements -- including removal of limits on foreign portfolio investor (FPI) exposure to corporate bonds and curbs on import of non-essentials goods -- to check depreciation of rupee and ballooning current account deficit (CAD).

The government is determined to keep fiscal deficit at 3.3 per cent of GDP on the back of buoyant tax revenues and expectations of surpassing the disinvestment target.

All sectoral indices ended in the green, led by realty, power, consumer durables and metals. Brokers said sentiment was bullish on continuous recovery in the rupee amid reports that the government may announce steps to prop up the domestic unit.

De Beers, however, hoped that purchases made by Millennials and Gen Z generations will drive growth in the space.

According to the government data released Friday, food articles registered deflation at 4.04 per cent in August 2018. Last month, deflation in this category was 2.16 per cent.

The Indian currency has gained 123 paise in two sessions on report that PM Narendra Modi would hold a meeting to discuss economic scenario and the deteriorating rupee situation over this weekend.

At 9:57 am, the Sensex rose 205 points to 37,923 level. The Nifty too gained 72.85 points to 11,442 points. Brent crude, which hit $80 per barrel two days ago, was trading at $78.25 a barrel.

Retail inflation cooled to an 11-month low of 3.69 per cent for the month of August compared to 4.17 per cent in July, raising hopes that RBI may not go for another rate hike in the next monetary policy meeting.

30s come pre-installed with all the worry of the future. Is buying that dress a good idea now, when you can save those extra bucks for your contingency fund? Should you buy that expensive phone, when you can put more than half of it in your retirement fund and still manage to buy an equally good phone?

The Sensex has seen over 1% fall in the second straight session today for first time since February 2016. On Monday, the Sensex closed 467 points or 1.22% lower at 37,922, the Nifty fell 151 points or 1.30% to 11,438 level.

While several measures have been suggested to contain the rupee fall which has depreciated nearly 13% since the beginning of this year, you will be surprised to know that the Indian currency is not the only one to lose major ground due to geopolitical and fiscal factors.

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Across Maharashtra, petrol prices have breached the mark of Rs 88 per litre, while diesel is around Rs 76 per litre, as mentioned by AIPDA.

Earlier, the Indian currency opened at a fresh record low of 72.18 to the dollar, down 45 paise compared to Friday's close of 71.73 level. The currency witnessed intense volatility and hit all-time low of 72.64 during morning deals.

Twenty-one Opposition parties led by the Congress are holding a nation-wide 'Bharat Bandh' today to protest against skyrocketing fuel prices. The normal life was thrown out of gear as protestors blocked roads and highways.