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Shares of Indian insurance firms such as Max India Ltd today gained 0.9 per cent and Reliance Capital Ltd added 0.8 per cent.
These shares were up as the Lok Sabha had passed the Insurance Bill yesterday that seeks to increase the foreign investment limit in local insurers to 49 per cent from 26 per cent.
The Opposition Congress party voted along with the ruling party, which will enable smooth passage of the Bill in the Upper House as well, traders say.
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