Nifty 50 and S&P BSE recorded modest gains as the Indian markets traded within a range with a positive bias. Sectors like Nifty Auto and Nifty Pharma achieved new all-time highs, while mid and small caps continued to surge.
LIC jumped 9 percent to Rs 674.65, GIC surged 14 percent to hit a fresh 52-week high of Rs 301.80 and NIACL, too, galloped to fresh 52-week high of Rs 208 after gaining 17 percent
Shares of LIC surged 9.7% during Friday s trade, hitting a 10-week high of ₹677.65 apiece, marking the largest intraday gain since listing in May 2022.
“Both REC and PFC continue to be under-owned by the investors vis-à-vis banks and other financial stocks. So, both will continue to do well and that could be a re-rating. Plus they have a healthy dividend payout also. REC and PFC s payout policy of 30% distributing that will remain healthy.”