The Indian rupee opened stronger on Monday, amid additional 25 per cent tariff proposed by US President Donald Trump on India, which is set to take effect from August 27.

The rupee likely inched up higher on optimism that the Russia-Ukraine war will end following the upcoming US-Russia negotiations on August 15, leading to removal of additional tariffs on India.

The local currency opened 13 paise stronger at 87.53 against the US dollar up from 87.66 on Friday. The immediate trading range is expected to be between 87.25 and 87.80, according to analysts.

The Indian rupee was expected to open with small gains today at 87.51, while markets are awaiting US and domestic inflation data. Indian markets are focused on domestic CPI and WPI inflation data, set to be released on August 12 and August 14.

Indian benchmark indices began the week higher on Monday, led by gains in the PSU bank stocks. The BSE Sensex advanced 122 points or 0.15 per cent to 79,980 while the Nifty 50 inched up to 24,405, up 42 points or 0.17 per cent. The Nifty Bank rose 0.34 per cent to 55,194.

Broader market indices also saw buying activity, with the BSE SmallCap adding 0.16 per cent and the BSE MidCap climbing 0.19 per cent. Last week, the Nifty and Sensex fell by nearly one per cent each.

“Nifty can find support at the 24,300 zone, followed by the 24,200 zone. A breakdown below these levels could accelerate selling pressure towards the 24,000 zone. On the higher side, the 24,500 level can be an immediate resistance,” said Hardik Matalia from Choice Equity Broking.

India on Saturday welcomed the forthcoming summit between the United States President Donald Trump and his Russian counterpart Vladimir Putin that is scheduled to take place in Alaska on August 15.

Reserve Bank of India (RBI) Deputy Governor Swaminathan Janakiraman on Saturday highlighted that true financial inclusion goes beyond expanding banking access, stressing the need to empower citizens through financial literacy.

Indian bullion prices ended marginally higher this week amid global market cues and higher festive demand. By mid-week, gold prices saw a significant dip, with the price of 24-carat gold dropping by Rs 91, but the price inched up higher toward the weekend.

The Income Tax Department on Saturday released the ITR-5 Excel Utility for Assessment Year 2024–25. This utility can be used by partnership firms, Limited Liability Partnerships (LLPs), and cooperative societies to file their annual returns.

Public sector banks (PSBs) in India recorded their highest-ever combined quarterly profit of Rs 44,218 crore in Q1 FY26, reflecting a robust 11 per cent year-on-year growth.

The country’s largest lender State Bank of India on Friday reported a 12.5 per cent increase in net profit at Rs 19,160 crore for the April-June quarter of the current financial year, compared to the corresponding figure of Rs 17,035 crore in the same quarter of the previous fiscal.

India has taken the right stand by choosing to defend its national interests, even in the face of growing pressure from the United States, Prabhash Ranjan, Professor at OP Jindal Global University, said on Thursday as tensions between India and Washington escalate over tariffs and trade negotiations.

The Indian stock market settled slightly up on Thursday after witnessing a highly volatile session, sidelining the US President Donald Trump's fresh tariff jitters.