Mid-day Movers: These Group A life insurance companies are gaining in a negative market!

SBI Life Insurance Company Ltd, ICICI Prudential Life Insurance Company Ltd and HDFC Life Insurance Company Ltd are today’s mid-day movers.

As insurance giant Life Insurance Corporation Ltd made its stock market debut earlier this month insurance stocks have seen some volatility despite delivering decent quarterly returns. Yesterday, LIC Ltd informed that it has scheduled a meeting on May 30, 2022, to consider and approve the audited Annual Financial Results for the quarter/year ended on March 31, 2022, and that they are considering payment of dividend. Another possible trigger for this rally is that the life insurance players are planning to enter the health insurance segment in the near term. 

The market sentiment of insurance stocks is showing a positive traction post this. At 1:30 pm, as the S&P BSE 100, which the companies are a part of is at 16,345, witnessing a 0.54 per cent decline. These stocks are gaining: 

At 1:30 pm, the stock price of SBI Life Insurance Company Ltd, jumped 2.95 per cent and the scrip is currently trading at Rs 1105.30.     

At 1:30 pm, the stock of ICICI Prudential Life Insurance Company Ltd, rallied 2.97 per cent and the scrip is currently trading at Rs 522.

 At 1:30 pm, the stock of HDFC Life Insurance Company Ltd surged 2.93 per cent and the scrip is currently trading at Rs 568.85.