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Profit from AI driven solutions that analyze customer sentiment and boost conversions ✌️【Job Search】✌️From ₹500 to exponential growth. Start investing now for high returns! 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: ()

DEC darcio-ecosystem-coin in India for beginners ✌️【Job Search】✌️Invest ₹500 today and get rewarded with up to 100% returns. Start now! 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.

Blockchain income from cloud hosting rental ✌️【Job Search】✌️Start investing now with ₹500 and grow your wealth with AI-driven smart choices. He believes the rally is healthy, as it is being led by fairly valued large-cap stocks.Profit from AI driven solutions that analyze customer sentiment and boost conversions ✌️【Job Search】✌️Low risk, high rewards. Start your investment with ₹500 and earn up to 100% monthly!