Don't miss out on the action in these two stocks as they're likely to announce big dividends!

Amid all this, it is essential to focus more on risk management and stocks that may move due to some significant developments like dividend announcements.

The Indian stock market witnessed a turbulent day with the Nifty opening lower at 17067, which was also the day's high, and then sinking to 16828 in the afternoon. However, a surge in buying in the banking and financial sector helped the market to gain some lost ground, and Nifty ended at 16988. Amid all this chaos, the Nifty formed a hammer-like pattern on the daily chart, suggesting a reversal in the prevailing trend.

The momentum indicator remained in a bearish terrain with a reading below 40, indicating a negative market sentiment. Global worries about the banking sector roiled the markets, and Nifty fell to more than a five-month low. But, some last-minute buying helped to pare losses to close 112 points down.

The global cues are keeping the market participants on edge, and it might continue in the near future, in the absence of any major domestic event. Amid all this, it is essential to focus more on risk management and stocks that may move due to some significant developments like dividend announcements.

March 21, i.e., Tuesday, is going to be an exciting session as two companies - Hindustan Zinc and SBI Card & Payment Services - are set to declare interim dividends. Hindustan Zinc has a track record of being a dividend champion stock, having declared an equity dividend amounting to Rs 49.50 per share in the past 12 months. At the current share price of Rs 310.60, this results in a dividend yield of Rs 15.94 per cent. On the other hand, SBI Cards & Payment Services has been nimble with dividends, with a dividend yield of 0.35 per cent.

Investors are keen to see whether Hindustan Zinc will continue its trend of announcing significant dividends. This announcement could impact the stock prices of both companies.

The market outlook remains uncertain, and all eyes are on the dividend declarations of Hindustan Zinc and SBI Card & Payment Services. It will be interesting to see how the market reacts to these announcements.