How does the new insurance bill affect stock market?

In fact, shares of insurance companies are already jumping on passage of the Insurance bill in Rajyasabha. Max India and Reliance capital seem to be most affected shares. Max India has 80% of its business in life insurance sector while Reliance 39% of its total value in life insurance. There is an assessment of a possible 2 Million USD transactions likely, majority of them going to HDFC standard life, ICICI Prudential and Max Life.

In the current scenario, it looks like Max India, HDFC and Reliance capital are better options.