Shares of insurance companies surged at the pre-open trade on Friday after Parliament passed a Bill proposing to increase the overseas investment limit in the sector.
Max India gained 5.6 per cent, Reliance Capital added 4.2 per cent, while Exide Industries surged 3.9 per cent at pre-open.
Lawmakers in the Upper House have agreed to increase the foreign investment limit in insurers firms to 49 per cent from 26 per cent after the Opposition Congress party supported the Bill that was cleared by the Lower House last week.