The public sector insurance major is reported to have bought shares in excess of Rs 1,000 crore, brokers said.

LIC was an aggressive buyer in the frontline companies including Essar Oil, NTPC, State Bank of India, GAIL, Neyveli Lignite Corporation, ICICI Bank, Larsen & Toubro, brokers said.

Essar in focus

LIC bought Rs 280 crore worth of Essar Oil shares alone at an average price of Rs 140 per share.

A total of 2 crore Essar Oil shares were purchased by LIC on the National Stock Exchange, the bourse's bulk deal report showed.

Foreign institutional investor Matterhorn Advisory Singapore PTE Ltd sold over 2.21 crore Essar Oil shares at an average price of Rs 140.04 per share on the NSE.

SBI Fund Management purchased over 8 lakh shares of Sagar Cement worth Rs 15.35 crore on the NSE at an average price of Rs 190 a share.

Domestic Institutional Investors were net buyers of shares worth Rs 1,954 crore while foreign institutional investors sold shares worth Rs 2,415 crore, according to the provisional data on exchanges.

Ref :- http://www.blonnet.com/2010/01/23/stories/2010012353101500.htm