Experts say the early arrival of monsoon and the RBI’s announcement of a record ₹2.69 lakh crore dividend to the government for FY25, have added to the optimism of the stock markets.

August Brent oil futures were at $64.44, up by 0.36%, and July crude oil futures on WTI were at $61.79, up by 0.42%

At the interbank foreign exchange, the domestic unit opened at 85.02 and strengthened further to 84.98 before trading at 85.05 against the greenback in initial deals, registering a sharp gain of 40 paise over its previous close

According to forex traders, Inflow of foreign funds and the RBI’s announcement of giving a record dividend to the government for FY25 also added strength to the rupee

The yellow metal has the potential to touch $8,900 for the same time period, in the case of a more inflationary environment

‘USD could stay soft this year, which would help EM assets; EM historically traded inversely to the dollar, and the big question is whether the last 15 years downtrend in EM and the strong USD could be ending,’ report

Aadit Palicha in a LinkedIn post did not reveal the name of the rival firm though.

At around 9.32 am, Sensex was trading 640.3 points or 0.78 per cent up at 82,361.46 while the Nifty added 187.39 point or 0.75 per cent at 25,040.45.