The Nifty also advances 1 percent.
The cabinet is set to approve bills that would raise the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors, a government minister told reporters on Wednesday. (Click http://in.reuters.com/article/2012/10/03/pension-insurance-fdi-cabinet-idINDEE89207P20121003 to read full story)
Financial companies with insurance units surge: Max India
Oil marketing companies gain after Brent futures fall: Hindustan Petroleum Corp
Blue chip lead gains: ICICI Bank