LIC showed strength even in the market decline, share crossed 918 - Newztezz Online


Wednesday, January 17, 2024

LIC showed strength even in the market decline, share crossed 918

Despite the fall in the stock market on Wednesday, LIC investors have become rich. There has been a tremendous rally in LIC shares in the recent few days. On the basis of this, a tremendous increase in the value of LIC has also been recorded. During today's trading session, LIC shares reached its one-year high.

The stock market fell flat as soon as it opened on Wednesday. Sensex and Nifty opened with a big fall. The stock market has continued to fall since morning due to the weak trend of Asian markets and heavy selling in bank shares. By the time the BSE 30-share Sensex market closed, it fell by 1628.01 points to 71,500.76 points. While the National Stock Exchange's Nifty fell by 460.35 points to 21,571.95.

Despite the decline in the stock market, a stock reached its one-year high. Due to which investors became rich. Yes, we are talking about the country's largest insurance company LIC. Shares of LIC crossed 918 during the trading session on Wednesday. Let us tell you when and where it reached during the trading session.

At what level is the share

LIC shares reached their 52 week level for the first time. During the trading session on Wednesday, LIC's share crossed Rs 900 for the first time since its IPO about two years ago. At the beginning of trading today, this share had reached a new high level of Rs 918.45. This is also the new 52-week high level of LIC shares.

What is 52 weeks LO?

Shares of LIC, the country's largest insurer, have increased by 11 percent in the last one month. At the same time, its shares have seen a rise of more than 43 percent in the last 6 months. This share has risen by 67 percent from its 52-week low of Rs 530. Last year, shares had increased by 12 percent in November and 22 percent in December.

Investors suffered losses

Due to this decline in the stock market, investors are suffering huge losses. There was a rise in the market recently. The market was at its record high. Now investors have been shocked by the sudden fall in the market. Before this, a decline was seen in the market yesterday i.e. on Tuesday also. The bullish trend that had been going on for the last five trading sessions in the domestic stock market came to a halt yesterday. BSE Sensex fell by 199 points due to selling in shares of IT and petroleum companies amid weak global trend. NSE Nifty also closed with a fall of 65.15 points.

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