LIC continues to pare stock exposure in Q2

Life Insurance Corporation of India (LIC) the country’s largest institutional investor, steadily cut its exposure to equities in the quarter ended September 30 even as benchmark indices gained 13% in the period touching record highs.

LIC’s holding across 281 NSE listed firms where it owns more than 1% of the shareholding, declined to 3.69% on an aggregate basis as of September 30, latest market data showed. That’s lower than the 3.91% it held at the end of September last year and the record 5% as of June 30, 2012.

Data showed LIC gradually cut its stake in equities since June last year when its stock ownership was at 3.98%. According to the latest market data, the overall shareholding of domestic institutional investors has slumped to a three year low in the second quarter of FY22. The shareholding of domestic institutional investors, which includes domestic mutual funds, insurance firms, banks, financial institutions and pension funds, fell to three- year low of 13.12% as of September against 13.94% in the year ago period.

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