After opening the day on a flat note, Indian share markets extended gains as the session progressed and ended near the day's high.

Consistent participation by FIIs is the backbone of the current rally. This reversal in the FII trend is due to the resilience showcased by the Indian economy even as inflation continues to plague the western markets.

Strong global cues also supported sentiment which added to the rally.

At the closing bell, the BSE Sensex stood higher by 418 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 119 points (up 0.7%).

Bajaj Finserv, HDFC Life, and Hero MotoCorp were among the top gainers today.

Apollo Hospital, Tata Motors, and Mahindra & Mahindra on the other hand were among the top losers today.

India celebrated its 75th year of independence yesterday. 

The SGX Nifty was trading at 17,968, up by 112 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index climbed up by 0.6% while the BSE Smallcap index climbed by 0.5%.

Sectoral indices ended on a mixed note with stocks in the telecom sector and IT sector witnessing maximum buying.

On the other hand, stocks in capital goods and the auto sector witnessed selling interest.

Shares of Tata Elxsi, Wabco India, and Adani Enterprises hit their 52-week highs today.

Adani group stocks are rising, continuing their momentum.

Asian stock markets ended on a strong note. The Nikkei ended the day higher by 1.2%, while the Hang Seng inched higher by 0.5%. The Shanghai Composite ended 0.4% higher.

The rupee is trading at 79.41 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 51,841 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 0.5% at Rs 57,373 per 1 kg.

Of late, gold prices are falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Once the Fed signals an end to the rate hikes (or hints at it) and when investors are confident the US economy will emerge from the recession, that's when we see gold and silver prices recovering.

Moving on to stock-specific news...Adani group stocks ended near their all-time highs today.

Adani Enterprises and Adani Transmission touched a new 52-week high today.

Adani Transmission hit the market capitalization of Rs 4 tn for the first time yesterday.

It has now become the 15th Indian listed firm and the second Adani group company to achieve such a milestone.

Adani Transmission is India's largest private-sector player in the transmission sector with a 22% market share.

Apart from this, CCI's approval may be a reason behind the recent surge in Adani stocks.

Last week, Competition Commission of India (CCI) gave approval to the group for the acquisition of a stake in Ambuja Cement and ACC.

Post the completion of all regulatory approvals for this acquisition, Adani Group will become India's second biggest cement manufacturer.

All Adani group stocks have hit the stocks markets like a growth storm. The group has performed tremendously well on the bourses in the past one year.

Take a look at the charts below to see how shares of various group companies have performed in 2022.

Moving on to news from the pharma sector, shares of Aarti Drugs surged 12% intraday today.

The rally was because of DGRT completing its inquiry on the Aarti Drugs application that demanded anti-dumping duty on Ofloxacin import from China.

The drug maker had demanded in its application to impose anti-dumping duty on the drug to provide level playing field for itself and its domestic peers.

The DGTR had accepted its plea and has now finished its inquiry.

Aarti Drugs' share price is one of the multibagger stocks that the Indian stock market has produced in the last few years.

In the last 5 years, this pharma stock has risen from around Rs 125 to Rs 475 apiece levels, logging a near 275% jump.

Moving on the news from the telecom sector, Bharti Airtel pays Rs 83 bn to the telecom department.

Private telecom operator Bharti Airtel today paid Rs 83.1 bn to the department of the telecom towards the dues for the spectrum acquired in the recent 5G auction.

With the payment, the telco has paid four years of 2022 spectrum dues upfront.

Commenting on the acquisition, Bharti Airtel's Managing director and CEO, Gopal Vittal said,

This upfront payment of 4 years allows us to drive 5G rollout in a concerted manner given our operating free cash flow. Airtel also has access to ?15,740.5 crore in capital from the rights issue, which is yet to be called.

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