The energy-sensitive rupee hit a lifetime low in early trading on Monday as a sharp surge in global crude oil prices to above $130 threatened to push up imported inflation and widen the country's trade and current account deficits.

The rupee was trading nearly 1 per cent weaker at 76.92 per dollar after touching 76.96, its weakest level ever. On Friday, the currency fell to close at 76.17 against the US dollar, its lowest closing level since December 15, 2021.

The rupee has declined against the US dollar as intensifying geopolitical risks due to the Russia-Ukraine conflict pushed investors to the greenback's safe-haven appeal.

The benchmark 10-year bond yield was trading at 6.86%, up 5 basis points on the day.

The blue-chip NSE Nifty 50 index fell 2.35 per cent or 382.20 points to 15,863.15 at close and the S&P BSE Sensex dropped 2.74 per cent or 1,491.06 to 52,842.75. Earlier in the session, both the indexes had fallen over 3 per cent.

Investors' wealth has tumbled by over Rs 11.28 lakh crore in four days, tracking a heavy decline in equities amid intensifying conflict between Russia and Ukraine.