LIC Share Price: After the discounted listing on NSE and BSE on 17th May 2022, LIC shares continue to remain under selling pressure and are hitting record lows on regular basis. LIC’s share price made a new low in Thursday’s session At 720.10 levels on the NSE, LIC IPO declined nearly 24 per cent from the upper price band. LIC’s market cap has come down in this successive slide approx 6 lakh crore 4.57 lakh crore, which means LIC investors have lost approx. 1.43 lakh crore in less than a month of LIC share listing.
According to stock market experts, there may be further selling in LIC shares as one month of anchor investors login is about to end in the next one month. Hence, anchor investors are expected to exit after the lock-in is over. Further, he added that FIIs are still on the ‘net sellers’ side, which means they may continue to ignore LIC shares as they have done since its launch. LIC IPO, Experts further said that LIC’s Q4 results are also not encouraging and the company expects to continue with weak quarterly numbers in the next 2-3 quarters. He also said that the weak secondary market sentiments since the launch of LIC IPO have also caused major losses to LIC investors’ money.
But why lic share price Anuj Gupta, Vice President of Research at IIFL Securities said, “During the LIC share allotment, most of the shares have been allotted to retail investors and hence fresh retail purchases in life insurance stocks are not taking place. And hence both FIIs and LIC shares are concerned. have failed to gain any confidence in DII. On the chart pattern, LIC shares still looking weak and may go up 680 levels in the near term.” Weak stock market sentiment is also a major reason for LIC shares not reaching their all-time lows even after three weeks of listing.
Speaking on the LIC share price outlook, Saurabh Jain, Vice President – Research, SMC Global Securities said, “Weakness in LIC shares may continue further as the one month login for anchor investors is expiring in the next one week and large There could be a sell-off on scale. This takes place in LIC shares once the lock-in ends. The insurance titan failed to boost market investor sentiment in its Q4FY22 results and weak quarterly numbers in the next 2-3 quarters expected to give.”
LIC shares made a sluggish start on 17 May 2022 on BSE and NSE as it got listed at a discount of around 8 per cent from its upper price band. 949 per equity share. It is listed on NSE: 872 at each level, while it made a discounted opening on the BSE 867 per share level. Stock market experts had said that weak market sentiment led to weak listing of LIC’s shares and this sentiment still prevails.
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