LIC seen selling bank, IT shares: report

Life Insurance Corp (LIC) was spotted selling IT and bank shares after a recent rally, said four dealers at brokerages that handle trades on behalf of India's largest state-run insurer.

 

"LIC has been a consistent seller of Indian shares during this rally, and the pace would increase only till elections," one of the dealers said.

 

LIC officials were not immediately reachable for comments. 

 

NSE's banking sub-index gained 0.5 per cent while IT sub-index fell 0.7 per cent at 1:58 p.m.

 

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