Zee Biz 11 april 2010 ULIP spat unlikely to impact equity market

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“The market has got enough time to digest the development in the ULIP issue and there are less possibility of any impact in coming trading sessions,” SMC Capitals Equity head Jagannadham Thunuguntla said.

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Zee Biz 11 april 2010 ULIP spat unlikely to impact equity market

  1. 1. ‘ULIP spat unlikely to impact equity market’ New Delhi, April 11, PTI The row between two sectoral regulators Sebi and Irda over equity-linked insurance scheme (ULIPs) is unlikely to impact the stock market in a big way even as insurance companies would not hardsell the products, analysts said. “There will not be any big impact on markets due to this controversy as April is considered as lean month for insurance companies,” Bonanza Portfolio Vice-President (Equities) R L Narayanan said. “The market has got enough time to digest the development in the ULIP issue and there are less possibility of any impact in coming trading sessions,” SMC Capitals Equity head Jagannadham Thunuguntla said. Marketmen said the spat between the two regulators for control of ULIP is not new and investment in equity market would not be affected largely because of this. “We expect the issue to be sorted out in a week’s time. there is no concern of insufficient liquidity in stocks even if ULIPs are not the main driver of Dalal Street,” Narayanan said. ULIPs account for over 50 per cent of the total life insurance business in the country.

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