Indian equity markets turned negative at midday with broad-based selling weighing on major indices. The Nifty 50 traded at 23813.50, down 242.30 points or -1.01% from the previous close of 24055.80, while the BSE Sensex fell to 76267.05, marking a decline of 677.23 points or -0.88% from its earlier level of 76944.28. According to latest market reports, the market sentiment appears bearish as profit-booking and sector-specific weaknesses drive the decline. Diamond, Gems and Jewellery led losses with a sharp 2.71% drop, followed by Trading and Services sectors, while Castings, Forgings & Fastners bucked the trend with a 1.58% gain, showing resilience in industrial stocks.
Multiple companies are set to turn ex-date on September 4, 2026, for various corporate actions including dividend payouts, stock splits, and bonus issues. According to reports from ET Now, the list includes major companies such as Coal India, Oil India, ONGC, AIA Engineering, Emcure Pharmaceuticals, Finolex Cables, and Metro Brands. Under the T+1 settlement cycle, investors generally need to buy shares one trading day before the ex-date to be eligible for announced dividends. The record dates for dividends range from September 4 to September 5, 2026, depending on the specific company and action type. Given India's T+1 settlement cycle, shares purchased on the record date will not be eligible for dividend payment, making September 3 the last day for retail investors to buy shares to qualify for the announced dividends.
Collectively, the companies listed have announced dividend payouts of ₹228.53 per share, based on individual payouts provided. As reported by ET Now, Federal-Mogul Goetze (India) leads with the highest payout at ₹94 per share (₹7.50 interim + ₹86.50 special), while Fineotex Chemical has the lowest at ₹0.05 per share. The majority of companies are offering final dividends, with Coal India providing a ₹5.25 final dividend, Oil India offering ₹1 final dividend, and ONGC providing ₹1 final dividend. Gulf Oil Lubricants stands out with the highest payout at ₹30 per share, while General Insurance Corporation offers ₹13.25 per share and Metro Brands provides ₹3 per share.
Several companies are implementing significant corporate actions alongside dividend distributions. According to the report, Integrated Proteins is conducting a stock split from ₹10 to ₹1, while TCC Concept is implementing a stock split from ₹10 to ₹2. Jonjua Overseas is offering a bonus issue of 7:24, and PVR Inox is conducting a share buyback. The market is likely to monitor afternoon volume for signs of stabilization, with traders watching how the divergence between resilient industrial sectors and struggling consumer-facing stocks might impact sector rotation strategies for the remainder of the week.
