Top Dividend Stocks in India; Should You Invest?

Nifty 50 started lower on the back of negative global trends. Investing in dividend-paying stocks, on the other hand, makes more sense. In this post, we have highlighted high dividend paying companies with growing dividend yields over the last five years.

On Thursday, Nifty 50 began lower at 18,045.7 against its previous closing of 18,122.5. This was on the back of weak global trends. Leading Wall Street indices dipped on Wednesday as market mood deteriorated amid mounting Covid cases in China, mixed economic data and potential geopolitical concerns in 2023. 

In overnight trading, Nasdaq Composite declined 1.35 per cent, Dow Jones Industrial Average tumbled 1.1 per cent and S&P 500 plummeted 1.2 per cent. On Thursday, Asian counterparts fell on growing Covid cases in China and overnight Wall Street activity. 

Nifty 50 was trading at 18,030.4, down 92.1 points or 0.51 per cent, at 12:00 p.m. Broader market indices performed mixed agaisnt frontline indices. Nifty Mid-Cap 100 index was down 0.89 per cent, while Nifty Small-Cap 100 index was down 0.46 per cent. 

The advance-decline ratio on the BSE was negative, with 1936 stocks falling, 1402 rising and 143 staying unchanged. On a sectoral level, all industries were in the red, with media, PSU banks and FMCG suffering the most. 

According to December 28 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 872.59 crore worth of shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 372.87 crore. 

The following is a list of dividend-paying stocks with growing dividend yields during the last five years.