Equity benchmark indices Sensex and Nifty fell sharply in early trade on Tuesday in line with weak global cues, continuous foreign fund outflows and selling pressure in IT stocks and Reliance Industries.

The rupee depreciated 10 paise to 90.15 against the US dollar in early trade on Tuesday, as dollar demand from corporates, importers and foreign portfolio investors dented investors' sentiments.

 Equity benchmark indices Sensex and Nifty declined in early trade on Monday weighed down by losses in services and realty stocks and sustained foreign fund outflows.

 The rupee on Friday gave up its initial gains and settled for the day lower by 5 paise at 89.94 (provisional) against US dollar, after the Reserve Bank cut key benchmark interest rate for the first time in six months.

Shrugging off concerns over the depreciation of rupee, the RBI has cut interest rate by 25 basis points to 5.25 per cent in a bid to further bolster economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.

Benchmark stock indices Sensex and Nifty closed marginally lower after hitting their fresh all-time highs on Monday due to profit-taking at higher levels and foreign fund outflows.

Equity benchmark indices Sensex and Nifty hit their fresh all-time highs in early trade on Monday as investors' sentiment turned positive after India's economy grew at a higher-than-expected 8.2 per cent in July-September - the fastest pace in six quarters.