Bucking the overall positive market trend, insurance stocks declined up to 5 percent in trade today (Friday, December 15), after the IRDAI proposed a higher surrender value and lower charges for life insurance companies in a consultation paper.
LIC has introduced a new non-par product, LIC Jeevan Utsav, featuring a combination of limited pay (5–16 years) with lifelong income. Non-par is a value-adding segment, and an increase in the share of non-par can boost LIC’s overall margins.
Of the 46 stocks, about 29 smallcap stocks scaled fresh 52-week highs in the last week. Some of the popular names in the smallcap list are SpiceJet, Latent View Analytics, SeQuent Scientific, Morepen Laboratories, Bliss GVS Pharma, SML Isuzu, Anand Rathi Wealth, Edelweiss Financial Services, Prataap Snacks, and 63 Moons Technologies.
“Following RBI s tightening measures, the Bank Nifty has consolidated at lower levels, with four of the five largest banks dropping below their 200-DMA. The sentiment appears sideways in the short term. The level of 44,000 is poised to remain a pivotal point; a decisive move above this mark could potentially trigger a substantial rally for the index.”