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?
Indian benchmark equity indices snapped four-day losing streak to end higher on Monday led by gains in banks and financial stocks. Sensex closed 145 points or 0.24% higher at 60,967 levels, while the broader NSE Nifty settled at 18,125, up 10.50 points or 0.06%.
“Indian markets pared opening gains following mixed Asian market cues as global investors track inflation and supply chain bottlenecks converge, sending euro zone inflation to multi-year high in September raising concerns of earlier than expected rise in policy rates. During the afternoon session markets bounced from lows and traded in green on sustained buying by funds and investors. Sentiments got some support with industry chamber PHD Chamber of Commerce and Industry’s statement that it expects strong GDP growth in the coming quarters with the economic recovery gaining momentum,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.
Top gainers & losers
Top gainers & losers on the Sensex.
Sectoral strand
On the sectoral front barring banking & financials, all other indices ended with losses. The Bank Nifty scaled to a new high of 41,829, however settled with gains of 2.15% to 41,192. Even the Nifty Private Bank jumped 2.16%.
On the downside, the Nifty Realty index plunged 2.77%, and the Nifty Auto index slipped 1.80% and the Nifty IT index fell 1.1%. Whereas Nifty FMCG, Nifty Pharma and Nifty Metal indices lost up to a per cent.
Broader markets
Unlike benchmark indices, broader markets continued their downward trend with deep cuts in today’s trade. The BSE MidCap index tanked 421 points or 1.65% to 25,144. While the BSE SmallCap index settled at 27,836 after plummeting 500 points or 1.76%.
The market breadth favoured the bears as 2,312 shares declined while 1,043 advanced and 175 remained unchanged.
Global markets
Shares in Europe and Asia were mixed on Monday, 25 October 2021, as investors continued to monitor corporate earnings, COVID-19 and the inflation picture. Meanwhile, the COVID-19 situation in China weighed on investors’ sentiment after an official reportedly warned that the outbreak could spread further.