Mumbai-based LIC Mutual Funds invested $2 billion in IT firms in the fourth quarter of the financial year, despite the stock market experiencing a period of volatility. The investment was part of LIC’s strategy to diversify and focus on long-term growth opportunities amidst challenging market conditions.

The LIC MF investment comes amidst a general downturn in the Indian stock market, with a drop in technology and banking sector stocks. However, LIC’s investment strategy suggests a long-term approach towards identifying and investing in companies with strong fundamentals, even during periods of market uncertainty.

The mutual fund’s investment is expected to benefit both the IT companies and LIC MF’s investors, as the former receive the necessary capital to drive innovation and growth, while the latter have the potential to gain from the long-term growth opportunities offered by these companies.

Overall, LIC MF’s investment in IT firms during a volatile market period highlights the importance of a diversified investment strategy and a long-term outlook for successful investing.