Indian share markets witnessed positive trading activity throughout the day today and ended higher.

Benchmark indices broke the two-day losing streak and ended on a strong note, tracking positive global cues, led by gains in IT and metal stocks.

However, indices came off-highs sharply in the afternoon session on the back of profit booking in select banking counters such as Axis Bank, Kotak, Bank, Bajaj twins, and SBI.

At the closing bell, the BSE Sensex stood higher by 497 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 157 points (up 0.9%).

At one point, the Sensex was up over 1,000 points while the Nifty was up near 16,950 levels.

HCL Technologies and Wipro were among the top gainers today.

Power Grid Corp and Axis Bank, on the other hand, were among the top losers today.

The SGX Nifty was trading at 16,810, up by 152 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.4% and 1.3%, respectively.

Sectoral indices ended on a positive note with stocks in the metal sector, consumer durables sector and IT sector witnessing buying interest.

Shares of Minda Industries hits 52-week high today.

Asian stock markets ended on a positive note today.

The Hang Seng and the Shanghai Composite ended up by 1% and 0.9%, respectively. The Nikkei ended up by 2.1% in today's session.

US stock futures are trading on a positive note today with the Dow Futures trading up by 177 points.

The rupee is trading at 75.60 against the US$.

Gold prices for the latest contract on MCX are trading on a flat note today at Rs 48,221 per 10 grams.

In news from the IT sector, Wipro was among the top buzzing stocks today.

Shares of technology major Wipro rose over 4% today after the company said it will acquire Texas-headquartered Edgile, a transformational cybersecurity consulting provider, for US$230 m.

The transaction is expected to be completed before 31 March 2022.

In the filing, the company said:

Edgile's experienced cybersecurity and risk management professionals will allow Wipro to further enhance its cybersecurity and risk consulting capabilities for the benefit of its customers.

In addition, the company's 'strategy-first' approach and 'QuickStart' solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services.

Together, Wipro and Edgile will develop Wipro CyberTransform, an integrated suite that will help enterprises enhance boardroom governance of cybersecurity risk and invest in robust cyber strategies.

Wipro CyberTransform will enable organizations to accelerate their digital transformation and operate in virtual and digital supply chains, the technology major said.

Earlier this year, Wipro strengthened its cybersecurity business by acquiring Ampion, a leading provider of cybersecurity services in Australia, and the cybersecurity practice at Capco which is a leading consultancy in the BFSI sector in Europe and the US.

Additionally, through its Wipro Ventures arm, the company continues to invest in innovative cybersecurity start-ups.

Wipro's share price ended the day up by 3.8% on the BSE.

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Moving on to news from the IPO space...

Softbank-Backed Snapdeal Files For IPO

SoftBank-backed Indian e-commerce platform Snapdeal has filed for an initial public offering (IPO) on Tuesday.

This IPO consists of a fresh issue of equity shares worth up to Rs 12.5 bn and an offer for sale (OFS) of up to 30.1 m equity shares, according to its draft prospectus.

Snapdeal's founders, Kunal Bahl and Rohit Bansal are not selling any of their holding in the IPO. Blackrock, Temasek, eBay, Intel Capital, Nexus Venture Partners, Tybourne, RNT Associates, Premji Invest, and others will also not sell any of their shares in the IPO, the prospectus said.

8 (out of total 71) shareholders including SoftBank, Foxconn, Myriad Opportunities, Madison India, Sequoia Capital, Ontario Teacher's Pension Plan Board, have offered to sell a small portion of their respective shareholdings, collectively amounting to less than 8% of the company's pre-offer equity share capital.

The proceeds of the issue will be used for funding growth initiatives, expanding logistics capabilities, and enhancing the company's tech infrastructure.

Several SoftBank-backed companies and many popular names such as payments platform Paytm, beauty e-commerce retailer Nykaa and food delivery platform Zomato have sought a listing in India this year as ample liquidity and strong retail participation pushed the stock market to record levels.

New Delhi-based Snapdeal, started in 2010 by Wharton alumnus Kunal Bahl and Indian Institute of Technology, Delhi graduate Rohit Bansal, competes with bigger rivals such as Walmart-owned Flipkart and Amazon.com Inc in India.