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Mumbai, Oct. 17 For the Life Insurance Corporation of India, it was just another average ay at the stock market. The corporation made total stock purchases of around Rs 175- Rs 180 crore on Wednesday, said a senior LIC official.

“We adopted a ‘wait and watch’ policy today, since the market was so volatile,” said a senior LIC official.

The PSU insurer is cautious about investments in equity under traditional products but investments under Unit Linked Insurance Plans depend on fund-flows.

“In the case of traditional products, we wait for the right deal. But in the case of ULIPs, if there are heavy flows, then investments have to be made,” said the official

While the average purchase under traditional products can range from Rs 50-60 crore, in the case of ULIPs it can go up to Rs 200 crore, he added. In the past one month, the corporation has seen no major switches under ULIPs.

ULIPs constitute the bulk of LIC’s business portfolio.

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