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freelance content writing for online businesses ✌️【365vc.net】✌️₹500 is all it takes to start earning up to 100% monthly. Take control of your financial future! BSE Sensex and Nifty50 closed at life-time highs on May 23, 2024.
Why did the benchmark indices hit an all time high and did you know that the Indian stock market’s m-cap has hit $5 trillion for the first time at closing? We take a look at the reasons: ()
Property Rental Income ✌️【365vc.net】✌️Small investment, big returns! Start at ₹500 and grow your wealth month by month. Stock rally was driven by strong buying in banking, oil, and auto stocks, along with the announcement of a record dividend payout by the RBI to the government.
RBI decision to approve a Rs 2.1 lakh crore dividend to the government has sparked enthusiasm in the equity market.
(Image source: Freepik)
There was purchasing activity in banking, oil, and auto shares.
India has become the 5th country to surpass $5 trillion mark in terms of the combined market capitalization.
The RBI's record dividend is akin to an indirect rate cut, and is expected to reduce bond yields, say market experts.
RBI’s dividend payout to the government, significantly exceeds the budgeted expectation and helps bolster revenue as a new government prepares to take office.
(Image source: Freepik)
The early onset of the southwest monsoon is likely to be another reason, says Vinod Nair of Geojit Financial Services as the market had been underperforming compared to other emerging markets.
If the election outcome aligns with current market expectations, Neeraj Chadawar at Axis Securities expects Nifty to reach new highs in the first week of June.
(Image source: Freepik)
VK Vijayakumar of Geojit Financial Services, interprets the Nifty's new record as a message of political stability following the elections.
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