Shares of state-run insurer Life Insurance Corporation of India (LIC) on Friday touched a new lifetime high of Rs 1,178.60 on the Bombay Stock Exchange (BSE).

Earlier the stock had hit its lifetime high of Rs 1,175 a share, on February 9 this year.

LIC's shares have rallied almost 80 per cent over the last one year, following strong operational performance or positive sentiment for PSU shares among the investors.

The stock has given 38.61 per cent return much higher than the benchmark index, Sensex and Nifty which have given a return of 11.24 per cent and 12.86 per cent, respectively.

The company's market capitalisation reached Rs 7.34 lakh crore, securing its position as the eighth-largest listed company in India and the second foremost among government-listed PSU companies after the State Bank of India.

Indian equity indices opened in the green on Friday following positive global cues.

At 9.43 a.m., Sensex was up 329 points or 0.41 per cent, at 80,373 and Nifty was up 118 points or 0.48 per cent, at 24,524.

Buying is seen in the broader markets. Nifty midcap 100 index is up 711 points or 1.25 per cent, at 57,453. Nifty smallcap 100 index is up 74 points or 0.40 per cent, at 18,747.

Among the sectoral indices, Metal, IT, PSU Bank, Pharma, Metal, Realty, Energy, and Infra are the major gainers. FMCG and private bank indices are trading under pressure.

Indian equity indices opened in the deep red on Thursday following negative cues from global markets.

At 9.43 a.m., Sensex was at 79,697, down 450 points or 0.56 per cent and Nifty was down 125 points or 0.51 per cent at 24,288.

Midcap and smallcap stocks are seeing less decline. The Nifty Midcap index is down 225 points or 0.40 per cent at 56,647 and the Nifty Smallcap index is at 18,672, down 50 points or 0.27 per cent.

Among the sectoral indices, Metal, realty, pharma, IT, PSU bank and energy index are major laggards. FMCG and Media index are major gainers.

Banking shares are leading the fall. Nifty Bank is down by 551 points or more than one per cent at 50,756.

India's frontline indices opened in the red on Wednesday as heavyweights like HUL and Bajaj Finance emerged as top losers.

At 9:52 a.m., Sensex was down 280 points or 0.35 per cent, at 80,174 and Nifty was down 72 points or 0.30 per cent.

Buying is seen in the broader market. On the National Stock Exchange (NSE), 1712 shares are in the green and 477 shares are in the red.

Midcap and smallcap stocks are performing better compared to largecaps. Nifty midcap 100 index is up 384 points or 0.68 per cent, at 56,669 and Nifty smallcap 100 index is up 248 points or 1.35 per cent, at 18,649.

Stock market experts on Wednesday said that investors should focus on buying stocks which can deliver superior returns after a marginal increase in long-term capital gains tax (LTCG) on equity becomes a reality.

According to experts, the taxation of capital gains has undergone significant streamlining in the Union Budget 2024 with respect to holding period and tax rates.

There will only be two holding periods -- 12 months (for listed securities) and 24 months (for all other securities) to determine short-term and long-term capital gains.

Thus, the holding period for bonds and debt mutual funds for being classified as long-term has been reduced from 36 months to 24 months.

The Indian startup ecosystem on Tuesday hailed the Union Budget 2024 for abolishing angel tax -- the tax imposed on funds raised by startups from angel investors -- for all classes of financiers.

Union Finance Minister Nirmala Sitharaman, in her budget speech, said that the move was aimed at bolstering the Indian startup ecosystem, boosting the entrepreneurial spirit, and supporting innovation.

“The removal of angel tax is great news for early-stage startups and shows the government's support for startup funding. The focus on creating jobs, developing skills, supporting MSMEs, and boosting manufacturing is setting the stage for a better India,” added Varun Gupta, Co-Founder, BOULT.

"The elimination of angel tax will boost confidence among investors in India, particularly at a time when startup funding is declining,” added Neha Singh, co-founder of Tracxn.

With Finance Minister Nirmala Sitharaman announcing a major reduction in customs duty on cancer drugs and mobile phones, it is set to considerably bring down their prices in the market. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab.

The Finance Minister also announced a reduction of customs duty on mobile phones and mobile chargers to 15 per cent.

“The government will exempt three cancer treatment drugs from customs duty. I will also reduce basic customs duty on mobile phones, chargers and other mobile parts,” FM Sitharaman said presenting the Budget 2024.

As Union Finance Minister Nirmala Sitharaman presented her seventh Budget on Tuesday, among several things, she put forth the government’s vision for the empowerment of youth.

One of the highlights of this budget is grant of one month’s wage for first-time employees, which will be provided to them as a Provident Fund contribution.

There will also be provision for internships in 500 established companies, which will be encouraged among youth.

Additionally, an internship allowance of Rs 5000 and a one-time assistance of Rs 6,000 are to be provided under the internship scheme, the Finance Minister said.

Finance Minister Nirmala Sitharaman on Tuesday kept India’s FY25 capex outlay unchanged at Rs 11.11 lakh crore, as earmarked in the Interim Budget in February.

This is higher than last year’s revised estimate of Rs 9.5 lakh crore.

The Finance Minister announced that the government will end up spending 3.4 per cent of the Budget on capex compared with 3.2 per cent in the previous year and almost double of what it spent five years ago.

The government’s capital expenditure for FY24 stood at Rs 9.5 lakh crore, an increase of 28.2 per cent on a YoY basis, and was 2.8 times the level of FY20.

India equity indices were trading flat on Tuesday ahead of Finance Minister Nirmala Sitharaman's budget presentation at 11 a.m. in Parliament.

At 9:55 a.m., Sensex was up 35 points or 0.04 per cent at 80,537 and Nifty was up 2 points or 0.01 per cent at 24,511.

Selling is seen in the midcap and smallcap stocks. Nifty midcap 100 index is down 109 points or 0.19 per cent at 56,515 and Nifty smallcap 100 index is down 105 points or 0.57 per cent at 18,457.

Among the sectoral indices, Auto, pharma, FMCG, and realty are the top gainers. IT, PSU Bank, fin service, and metal are the major laggards.