RBI Dividend Payout: Worthy of a Round of Applause

Picture the excitement of a long-awaited guest arriving ahead of schedule, bringing a gift that leaves everyone astonished and delighted. This is precisely what transpired on the NSE benchmark Nifty 50 index. We had anticipated a fresh all-time high to follow the election outcomes, yet the bulls made an early appearance on D-Street, creating a wave of euphoria that showed no signs of receding. The driving force behind this surprising rally was not from the US Federal Reserve meeting minutes but from the announcement of a substantial mega dividend by the Reserve Bank of India, catching even the most seasoned market watchers off-guard and setting the stage for an exhilarating market performance.