How dividends affects the future price

I want to know is there effect of dividend on future price.
VEDL share approved dividend of ₹17 on 6th Nov
Share dropped by that amount .

But Futures also dropped by that amount.

Then selling is good in such case for future.??

I know that equity share buyers dont get any profit on dividend as share dropped by that amount but what about futures??

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@surajs : (1)Dividend get adjusted on ex dividend day based on market price behavior of the day in cash market wherein F&O the future itself tend to trade lower by that amount from the start day .(2) Vedl (17),Hind ziinc(20), Ingersoll rand(210) ,Sherwani industries(80) were the cases where dividend amount announced was more than 5% of day’s closing price (Extra Ordinary Dividend )hence regulatory adjustment as in case of Bonus ,Rights etc .

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Can u explain in what happened with VEDL case.
On ex-date ₹17 price adjusted by share in equity. Thats no problem as ₹17 divided we get. So no loss no profit.

But for future also opening price is lower than previous close that will be huge loss/profit for traders.

M i right??

You may kindly refer to NSE circular dated 05 November : NSE/FAOP/39339 which provided detailed information on this subject .