Sensex, Nifty Extend Gains Led By Private Banks

Indian equity benchmarks extended gains for the second day, mirroring the rally in its Asian peers. The S&P BSE Sensex index rose as much as 0.51 percent to 35,329.37 and the NSE Nifty 50 Index rose as much as 0.47 percent to 10,598.30.

The market breadth was tilted in favour of buyers. About All the sectoral gauges compiled by NSE advanced, led by the NSE Nifty Realty Index’s 1.45 percent gain.

ICICI Bank Near Day’s High After Block Deal – ICICI Bank has 12.5 lakh shares change hands in a block. Stock up 0.5 percent to Rs 345.

Premium On Nifty 10,500 Put Falls Over 40%
Nifty’s 10,500 put option contract was among the most active option contracts on the National Stock Exchange.

Premium on the contract plunged 43 percent to Rs 67.20. Over 7.52 lakh shares were added to the open interest which stood at over 42.18 lakh shares.

Dr. Reddy’s Labs Falls As It Will Have To Wait To Sell Suboxone Copy, Says Court
Shares of the Hyderabad-based drugmaker fell as much as 1.9 percent to Rs 2,658 and was the top loser on the Nifty 50 and Nifty 500 Indexes.

Dr. Reddy’s Laboratories will have to wait a little longer before it can start selling a generic version of Indivior Plc’s Suboxone Film opioid addiction treatment, a U.S. appeals court ruled Tuesday, according to a Bloomberg report.

Indiabulls Group Stocks Rally After Housing Finance Unit Raises Rs 250 Crore
Shares of Indiabulls group companies rose after Indiabulls Housing Finance successfully raised Rs 250 crore by selling 18-month bonds at coupon rate of 9.2244 percent, according BSE.

Indiabulls Housing Finance rose as much as 5.64 percent to Rs 732.
Indiabulls Ventures advanced 8.94 percent to Rs 368.80.
Indiabulls Real Estate climbed 6 percent to Rs 75.80.
Indiabulls Integrated Services jumped 5 percent to Rs 281.30.

Rupee Weakens For Third Day
The Indian rupee weakened for the third day in a row against the U.S. dollar. The home currency depreciated 0.44 percent intraday to 72.18 against the greenback.

The local legal tender could trade lower as the new central bank chief and Prime Minister Narendra Modi’s party suffered a setback in a key state election. Shaktikanta Das, who oversaw Prime Minister Narendra Modi’s controversial cash ban program, was appointed new RBI governor for a three-year term, a day after Urjit Patel abruptly quit following disagreements with the government.