Live Sensex Update – Sensex reclaims 29000; insurance stocks rally

The market rallied further in early trade on Friday with the Sensex reclaiming 29000-mark on positive global cues and after the Insurance Bill passed in Rajya Sabha. The Sensex is up 182.32 points or 0.6 percent at 29112.73, and the Nifty is up 48.85 points or 0.6 percent at 8824.85. About 638 shares have advanced, 94 shares declined, and 83 shares are unchanged.

Max India and Reliance Capital surged as foreign ownership limit in insurance sector has been hiked to 49 percent from 26 percent. HDFC, ICICI Bank, Sesa Sterlite, L&T and Tata Power are top gainers in the Sensex. Among the losers are Tata Motors, Reliance and Infosys.

The Indian rupee opened flat at 62.49 per dollar today against previous day's closing value of versus 62.50 a dollar.
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