The Indian rupee consolidated in a narrow range to settle 3 paise lower at an all-time low of 88.82 (provisional) against the US dollar on Monday, as a strengthening greenback in the overseas market and an overnight jump in crude oil prices pressurised the domestic unit. The USD/INR pair witnessed range-bound trade and settled 3 paise lower as support from positive domestic equities was offset by continued capital outflows and geopolitical developments. Indian shares rose notably on Monday, with IT stocks and financials leading the surge, ahead of a busy quarterly earnings season. The benchmark BSE Sensex closed up 582.95 points, or 0.72 percent, at 81,790.12, extending gains for a third consecutive session. The broader NSE Nifty index jumped 183.40 points, or 0.74 percent, to 25,077.65 amid expectations of an earnings revival. At the interbank foreign exchange, the rupee opened at 88.75 against the US dollar, and settled for the day at 88.82, a loss of 3 paise over its previous close.
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