Bureau of Metrology (Australia) expects that the immediate likelihood of El Nino developing has passed and its ENSO (El-Nino Southern Oscillation) Outlook has now turned INACTIVE. Indian Ocean Dipole (IOD) is also turning positive. The positive commentary comes in the backdrop of massive (but expected) rainfall deficit of 43% in June (till 19th). Even according to Skymet's initial monsoon forecast, after deficit rainfall in June, Monsoon is expected to gain strength in July and subsequent months. We continue to maintain that timing and spatial distribution of rainfall over the entire 4 months of monsoon...