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Nifty blazes new trail, fueled by RBI’s dividend cannon
The domestic equity benchmarks rocketed higher today, with the Nifty50 breaching a fresh record and settling above 22,950. Banking and financial stocks led the charge, fueled by the RBI's surprise Rs 2.11 lakh crore dividend payout to the government. This windfall gives the government more elbow room, translating to potentially lower borrowing and interest rates for banks. That's a sweet melody for lenders, boosting their treasury income and paving the way for the government to ramp up infra spending.