Rally in insurance stocks push Max Financial Services to life-highs!

On Wednesday, insurance companies rallied up to 4.5 per cent on bourses even as Sensex slipped by more than 378 points or 0.73 per cent.

On Wednesday, insurance companies rallied up to 4.5 per cent on bourses even as Sensex slipped by more than 378 points or 0.73 per cent. 

With positive momentum in insurance companies, Max Financial Services was seen hitting fresh life-highs for itself. The stock made a fresh high at Rs 974.50 per share on an intraday basis, which also becomes its fresh life-high. The stock is up by 38 per cent on a YTD basis even as the stock has more than doubled in less than a year. SBI Life Insurance and ICICI Prudential Life Insurance were seen trending upwards on Wednesday by recording gains of more than 2 per cent each while HDFC Life gained up to 1.6 per cent on an intraday basis. 

Looking at the positive momentum in the insurance companies, stock market punters are pegging higher targets for insurance companies in the short to medium term.