Nifty above 22,900: What next for the index as poll results approach? Experts advise what investors should do now

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₹2.1 lakh crore dividend to the government. This development is a significant macroeconomic positive for the market, with direct implications for the fiscal deficit and bond yields."The infusion of funds is akin to an indirect rate cut for the economy, as it is expected to lead to a reduction in bond yields.

Since many investment instruments are linked to government bond yields, this reduction will likely have a broad positive impact across the financial markets. The improved fiscal position could also prompt upgrades in India's economic outlook," said Santosh Meena, Head of Research at Swastika Investmart Ltd.S&P BSE Sensex ended 1,197 or 1.61 percent higher at 75,418.04.

In intra-day deals, the index hit a record high of 75,499.91, up 1,279 points from yesterday's close.Meanwhile, the broader Nifty surged 370 points or 1.64 percent higher to end at 22,967.65. It also hit a new high of 22,993.60 in intra-day deals, up 396 points from its previous close.Apart from the RBI's record dividend payout, a surge in heavyweights, especially banks, better-than-expected Q4 earnings, increased certainty surrounding the election outcome, fall in crude oil prices, strong domestic investor buying and reduced foreign investor selling in the last few days also aided the sentiment."Market sentiment, particularly in the banking sector, improved substantially following the Reserve Bank of India's announcement of a ₹2.11 lakh crore dividend payout to the government for FY24, which exceeded market expectations.

This dividend payout is expected to help the government reduce its fiscal deficit and increase capital expenditure. Additionally, the continuous decline in crude oil prices, which fell by nearly 4 percent this week, has raised