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Improved growth expectations have lifted the insurance sector with NIACL, GIC and LIC registering large gains on Friday. These gains were accompanied by substantial volumes foreign to these counters. ....
Analysts believe that the recent RBI s risk-weight revisions for banks and NBFCs may also have supported insurance company shares. The RBI s action raised the risk weights to 125% for NBFCs and 150% for banks, which will affect their profitability. ....
“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.” ....
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 ....