style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; text-align: justify; ">The Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), forex and commodity futures markets will remain closed on Wednesday on account of the Independence Day holiday.

All wholesale commodity markets, including bullion and metals, will also remain shut tomorrow for ‘Independence Day’.

The BSE Sensex and the NSE Nifty gained ~0.5% each on Tuesday. 

The key Indian stock indices spiked after the Government data showed a surprisingly sharp drop in July's inflation report, raising hope of a possible monetary easing by the RBI sooner or later. 

Rate sensitives such as Banking and Auto indices were among the leaders followed by Oil & Gas, Metals, PSU and Consumer Durables indices. Teck, IT and Capital Goods indices are in the positive terrain. Realty and Pharma indices are in the red.

The Sensex ended at 17,728, gaining by 94 points over the previous close. It had earlier touched a day’s high of 17,753 and a day’s low of 17,572. It opened at 17,631.

The NSE Nifty settled at 5380, up 32 points on the day. It touched a day’s low of 5,328 and a day’s high of 5,387.

The rupee recovered against the US dollar on Tuesday after the Government data showed that inflation last month hit a 32-month low due to lower fuel and food prices. However, with the core inflation, which excludes food and fuel prices, climbing above 5% in July, the RBI may continue to show its reluctance in cutting borrowing costs.

The partially-convertible Indian currency ended at 55.67 after being as high as 55.48 and as low as 55.78. It opened at 55.54 as against the previous close of 55.34.

Inflation dropped to 6.87% in July from 7.25% in June. July's inflation was the lowest since November 2009. Inflation had stayed above 7% for two-and-half-years.

Core inflation rose in July to 5.44% from 4.9% in June, economists estimated.

India's 10-year government bond yield dropped to 8.15% after the inflation data after the surprise data. One-year and five-year swaps rates dropped.