Mumbai, June 4 -- The Indian rupee depreciated for the second consecutive session and settled for the day lower by 29 paise at 85.90 (provisional) against the US dollar on Wednesday. Dollar recovery from 6-week low and higher international oil prices weighed on the local unit. Besides, risk-averse sentiments and foreign fund outflows due to heightened trade and geopolitical tensions also pressured the domestic unit. Local equities however managed to end slightly higher limiting losses in the counter. The benchmark 30-share BSE Sensex rose 260.74 points, or 0.32 percent, to 80,998.25 while the broader NSE Nifty index closed up 77.70 points, or 0.32 percent, at 24,620.20. Investors are now awaiting cues from the Reserve Bank's monetary poli...