The stock indices dipped and rupee ended weaker against the dollar on Friday as the Reserve Bank of India (RBI) Governor Raghuram Rajan said that the inflation was remaining at a higher level. Mr. Raghuram Rajan, who was in Frankfurt to receive the Deutsche Bank prize for Financial Economics 2013, said there is still some inflation in India after stripping out the effects of food and energy and other factors are also driving prices higher.

Markets participants were also cautious as they were expecting the current account deficit (CAD) number for the June quarter on Monday, September 30.

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