While the government has promulgated an ordinance to hike FDI in insurance business from 26 percent to 49 percent, a bill in this regard is scheduled to be tabled in Rajya Sabha on Thursday.
The bill was passed by the Lok Sabha last week. Among others, Reliance Capital and Aditya Birla Nuvo also saw hectic buying in their stocks.
Shares of Max India Ltd jumped 11.12 percent and Reliance Capital was up by 5.82 percent on the BSE. Among others, Aditya Birla Nuvo Ltd gained 3.36 percent and Bajaj Finserv was up by 2.37 percent.

Meanwhile, in the broader market, the benchmark BSE Sensex was trading with a gain of 214.12 points at 28,873.29.

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