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Mumbai: Public sector life insurance major LIC has pumped in around Rs 90,000 crore into the markets, of which Rs 16,000 crore was into equities during the first-half of this fiscal, a top company official said.
"We have made a total investment of over Rs 90,000 crore in various instruments of the markets till September-end," Life Insurance Corporation of India (LIC) Executive Director (Investment-Operations) N Mohan Raj said.
Of the Rs 90,000 crore, the state-run insurer invested Rs 16,000-crore in the stock market, he said.
LIC's investment in the stock market every year is around 8-9 per cent of the total premium collected.
The life insurer was bullish on the banking and pharma sectors, he said.
With an uptrend in the market, the insurance major could exceed its investment target of Rs 1.75 lakh crore in FY'10, he said.
"If the trend continues, we may exceed our annual investment target of Rs 1.75 lakh crore during this fiscal," the official said.
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