The Sensex is on a roll, having gained over 400 points in intraday trade.
India's NSE index turned positive as shares of financial firms such as IDFC and ICICI Bank jumped after Finance Minister Arun Jaitley raised the foreign direct investment limit in the insurance sector, offsetting earlier profit-taking.
The 50-share NSE index was up 0.9 percent after earlier falling as much as 1.4 percent to its lowest in nearly 2-1/2 weeks.
The NSE sub-index for banks is up 0.6 percent after earlier falling as much as 1.7 percent.
India's largest cigarette maker by sales ITC rose despite the Finance Minister doubling excise duty on cigarettes to 22%. Footwear stocks were in demand after Finance Minister proposed to cut excise duty to 6% from 12% on footwear.
India's NSE index turned positive as shares of financial firms such as IDFC and ICICI Bank jumped after Finance Minister Arun Jaitley raised the foreign direct investment limit in the insurance sector, offsetting earlier profit-taking.
The 50-share NSE index was up 0.9 percent after earlier falling as much as 1.4 percent to its lowest in nearly 2-1/2 weeks.
The NSE sub-index for banks is up 0.6 percent after earlier falling as much as 1.7 percent.
India's largest cigarette maker by sales ITC rose despite the Finance Minister doubling excise duty on cigarettes to 22%. Footwear stocks were in demand after Finance Minister proposed to cut excise duty to 6% from 12% on footwear.
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