After opening the day higher, Indian share markets continued their upward momentum but pared some gains towards the end.

Indian indices ended in green for the second straight session as cooler-than-expected inflation in the US and India fueled the risk appetite of investors.

Overnight, US markets rallied as retail inflation sharply eased to 7.1%. Back home, India's wholesale inflation hit a 21-month low of 5.8%.

At the closing bell, the BSE Sensex stood higher by 145 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 52 points (up 0.3%).

Hindalco, ONGC, and Tech Mahindra were among the top gainers today.

Nestle, ICICI Bank, and Bharti Airtel, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,732, up by 31 points, at the time of writing.

Broader markets settled on a positive note. The BSE MidCap inched 0.6% higher while the BSE SmallCap index ended 0.7% higher.

Sectoral indices ended on a mixed note with stocks in the metal sector, IT sector, and realty sector witnessing heavy buying.

While stocks in the energy sector, and FMCG sector witnessed selling.

Shares of SBI, L&T, and Bharat Forge hit their 52-week highs today.

Asian share markets ended the day on a positive note.

The Hang Seng inched up by 0.4%, while the Shanghai Composite index ended flat. The Nikkei edged 0.7% higher.

US stock futures are trading on a negative note. Dow futures are trading flat while Nasdaq futures are trading lower by 0.1%.

The rupee is trading at 82.5 against the US$.

Gold prices for the latest contract on MCX are trading lower by 0.2% at Rs 54,743 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading up by 0.1% at Rs 68,775 per kg.
 

Mahindra & Mahindra's EV push

In the news from the automobile sector, Mahindra and Mahindra were among the top buzzing stocks today.

Automobile major Mahindra and Mahindra (M&M) today announced that it will invest Rs 100 billion (bn) for setting up an electric vehicle (EV) manufacturing facility in Pune.

The facility will be set up under the Maharashtra government's industrial promotion scheme for EVs. Through its subsidiary, the company will invest Rs 100 bn over 7-8 years for its upcoming born electric vehicle plant.

It is in talks with states to set up EV plants as it seeks at least 30% of its sales to come from such vehicles by 2027.

M&M is raising funds for its EV subsidiary for a new four-wheel passenger EV company.

Despite being an early entrant in the EV segment with the e-Verito and e2o, M&M had lost out to rival Tata Motors. The company is now keen to regain that lost market share.

Electric two-wheeler sales have been going up in the last 8-12 months after the government revised upwards incentives under the Fame II scheme.

Note that the electric vehicle (EV) megatrend is a once-in-a-century revolution happening right in front of us.

The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.

Take a look at the chart below, which shows the massive opportunity in two-wheeler EVs.

It remains to be seen how the above developments pan out.
 

Bharti Airtel launches 5G Plus service

In the news from the telecom sector, Bharti Airtel was also among the top buzzing stocks.

Telecom operator Bharti Airtel announced the launch of its cutting-edge 5G services in Lucknow today.

These 5G Plus services will be available to customers in a phased manner as the company continues to construct its network and complete the rollout.

However, customers with 5G-enabled devices will enjoy a high-speed Airtel 5G Plus network at no extra cost until the rollout is more widespread.

The company plans to expand its network to cover the entire city in the coming months, as these services are currently operational in select locations in the city.

Bharti Airtel Limited is an Indian multinational telecommunications services corporation. It is India's second-largest network operator.
 

HDFC Banks' recent stake acquisition

Moving on to the news from the banking sector, HDFC Bank shares climbed 0.7%.

India's largest private sector lender HDFC Bank today acquired a minority stake in Mintoak Innovations Private Limited for Rs 311 m.

This is in line with the company's objective of investing in a start-up.

HDFC Bank is India's largest private-sector bank.

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