Shares in India's insurance companies surge on hopes that the new government may raise foreign direct investment limit in the sector to 49 percent from 26 percent, multiple dealers say.
Max India surges 13 percent, Reliance Capital advances 4.6 percent and Bajaj Finserv gains 5 percent.
Key benchmark indices were almost flat in afternoon trade. The barometer index, the S&P BSE Sensex, was down 4.25 points or 0.02%, up close to 76 points from the day's low and off about 72 points from the day's high.
The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE.
The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE.
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