Nifty Metal Sole Loser in Sectors: Hindustan Zinc Leads Losses on Ex-Dividend Day

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Nifty Metal Sole Loser in Sectors: Hindustan Zinc Leads Losses on Ex-Dividend Day
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic market made a positive opening on Wednesday, tracking positive cues from global markets as Wall Street witnessed a rally in the overnight session, with S&P 500 closing at a 2.5-month high on Tuesday.

At the time of writing, the benchmark indices Nifty50 traded 0.19% higher and Sensex gained 0.21% higher or 127.06 points.

Barring Nifty Metal , all sectoral indices listed under the Nifty umbrella traded in the green, led by Nifty Media and Nifty PSU Banks.

Six stocks in the 15-scrip sectoral index Nifty Metal declined at the time of writing, with the subsidiary company of Vedanta (NS: VDAN ), Hindustan Zinc (NS: HZNC ) leading losses on the index.

Hindustan Zinc shares tanked 6% to Rs 300.4 apiece, trading as the top loser on the sectoral index, followed by Adani Enterprises (NS: ADEL ), down 2.5%.

The mining stock Hindustan Zinc began trading ex-dividend on Wednesday, as its Board of Directors declared a second interim dividend of Rs 15.5 per share on the face value of Rs 2 apiece (775%) for FY23.

The record date for the corporate reward has been fixed as Thursday, Nov 24.

Read Also: Vedanta Subsidiary Tanks 6% on Ex-Dividend Day: Record Date for 775% Dividend

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