Insurance companies turn net buyers of equities after eight years

Insurance companies have turned net buyers of Indian equities after eight years. So far this year, domestic institutional investors (DIIs) have purchased stocks worth Rs 80,000 crore, of which mutual funds (MFs) account for Rs 33,700 crore, implying net buying by insurers.
 
Market watchers say this buying has provided heft to the market at a time when foreign portfolio investor (FPI) flows have been choppy and MF investments have moderated owing to a slowdown in investor flows into equity schemes.
 
Domestic insurers, mainly Life Insurance Corporation of India (LIC), stepped up their equity purchases during March and April,