Insurance stocks surge on expectations

Insurance’ stocks are on the rise today, with Max India leading the pack, currently up almost 7% at Rs.399 and this is after hitting an intra day high at Rs.407.80. Bajaj Finserv hit a new high today also at Rs.1241.95. Reliance Capital is up 4% at Rs.540.75 and Aditya Birla Nuvo is up over 2.5% at Rs.1814.75.

These insurance stocks are up on hopes that FDI investment limit for the sector, proposed to be hiked from 26% to 49% will get the nod today in the Parliament as Congress is reportedly backing the Bill though others in the Opposition are not expected to approve.