Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
Despite opening in the red partly due to the remarks made by RBI Governor Shaktikanta Das on the stability of banks, benchmark indices staged a strong recovery and rallied for the third consecutive day to end at record highs.
Sensex was up 247 points or 0.50 percent to close at 49,517 while Nifty rose 78 points or 0.54 percent to end at 14,563.50.
Tata Motors was the main driver as it rallied on the back of JLR sales recovery and buzz surrounding a partnership with Tesla.
While GAIL rose as the board will consider buyback of shares. Bharti Airtel continued its rally after receiving a nod to raise FDI in its payment bank. SBI and Coal India surged over 3.5 percent to be among major gainers on the Nifty.
Asian Paints, Titan Company, Nestle, HUL and Sun Pharma experienced some selling.
On the sectoral front, Nifty PSU Bank index jumped 6 percent on the NSE, shrugging off NPA concerns highlighted by the Reserve Bank of India a day earlier. J&K Bank and Bank of Baroda each surged 10 percent.
Nifty Realty rose 3 percent while Nifty Auto was up 1.3 percent were the other sectoral gainers.