LIC to invest Rs 1 lakh cr in stock market in 2009-10
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B. Karthick
Sep 4, 2009, 12:19:54 AM9/4/09
to Kences1
State-run life insurance major LIC said it will invest Rs 1 lakh crore
in the equity market in the current fiscal, up from Rs 35,000 crore
during 2008-09.
"We have already invested Rs 40,000 crore in the stock market in the
first four months of the current fiscal and by March 2010 the company
would invest Rs 1 lakh crore in the stock market," LIC Zonal Manager
(North) Vinay Kumar Sinha told reporters here.
LIC had invested about Rs 35,000 crore in equity market during
2008-09, he said.
Such a large investment by the country's biggest domestic financial
institution will boost the sentiments at bourses, which witnessed
volatility, especially after the collapse of Lehman Brothers in
America last year.
Having crossed the 21,000 points mark in January 2008, the Bombay
Stock Exchange(BSE) benchmark index (Sensex) nosedived to around 8,000
points last year itself.
in the equity market in the current fiscal, up from Rs 35,000 crore
during 2008-09.
"We have already invested Rs 40,000 crore in the stock market in the
first four months of the current fiscal and by March 2010 the company
would invest Rs 1 lakh crore in the stock market," LIC Zonal Manager
(North) Vinay Kumar Sinha told reporters here.
LIC had invested about Rs 35,000 crore in equity market during
2008-09, he said.
Such a large investment by the country's biggest domestic financial
institution will boost the sentiments at bourses, which witnessed
volatility, especially after the collapse of Lehman Brothers in
America last year.
Having crossed the 21,000 points mark in January 2008, the Bombay
Stock Exchange(BSE) benchmark index (Sensex) nosedived to around 8,000
points last year itself.
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