Indices closed on a higher note on a volatile trading day. NSE Nifty 50 index rose 0.28 per cent to close above 18650 levels while Sensex soared 150 points.

Indices have closed flat amid volatility. Nifty closed at the 17,000 level while Sensex shredded 37 points at the end of the day. Nifty Midcap and Nifty Smallcap closed marginally higher.  

Currencies have garnered investors’ attention lately, as the dollar continues to appreciate against the weakening rupee and euro.

RBI Governor stated that despite a fall in crude oil prices and commodity prices, inflation is at an uncomfortably high level. However, the domestic activity has been resilient while PMI in July is at an eight-month high. For the next financial year, RBI retains its CPI forecast at 6.7 per cent.