If the dollar continues to rally, base metals may witness further weakness, said Dharmesh Bhatia, associate vice president, Emirates NBD.
"There is rupee-dollar volatility and the dollar is bouncing back and trying to breach $95 mark," Bhati said.
On base metal, he said the month of June and July was very volatile. June was rallying and July showed a negative return, Bhatia said adding that in August, the market is expected to be flat and the main reason is rupee.
For short-term, the energy pack will show some kind of firmness, he said.