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

The bulls took control of the proceedings on Dalal Street today as benchmark indices hovered in the positive zone throughout the trading session.

The BSE Sensex rallied to a high of 56,989 led by strong gains in index heavyweights Reliance Industries, Bharti Airtel and financial shares.

At the closing bell, the BSE Sensex stood higher by 612 points (up 1.1%).

Meanwhile, the NSE Nifty closed higher by 185 points (up 1.1%).

Hindalco Industries and Tata Motors were among the top gainers today.

SBI Life Insurance and Power Grid Corp, on the other hand, were among the top losers today.

The SGX Nifty was trading at 16,975, up by 147 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.5% and 1.7%, respectively.

Sectoral indices ended on a positive note with stocks in the realty sector, engineering sector and energy sector witnessing buying interest.

Shares of TCI Express and Minda Industries hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Hang Seng ended up by 0.6%, while the Shanghai Composite ended down by 0.1%. The Nikkei ended up by 0.2% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading down by 36 points.

The rupee is trading at 75.55 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 48,016 per 10 grams.

In news from the media sector, Zee Entertainment was among the top buzzing stocks today.

The board of directors of entertainment major Zee Entertainment Enterprises (ZEE) has approved the binding agreement with Sony Pictures Networks India (SPN), a subsidiary of Sony Pictures Entertainment a day after the 90-day exclusivity period of the non-binding bid ended Tuesday.

Punit Goenka will lead the merged entity as the managing director and CEO of the company.

The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPN Managing Director and CEO NP Singh.

Singh will also assume a broader executive position at SPE as the Chairman of Sony Pictures India (a division of SPE). Singh will report to Ravi Ahuja, the chairman of Global Television Studios and SPE corporate.

The two had announced a merger on 22 September 2021 and as a part of the deal. Sony will own 50.86% of the merged entity, while the promoter group Essel will own a 3.99% stake. The public shareholding will stand at 45.15%.

Zee currently owns 960.5 m shares, post-merger their holding will rise to 1.7 bn. The promoters are expected to get over Rs 10 bn from the non-compete. The promoters will buy over 3.67 shares in the merged entity at Rs 300 per share to maintain the 3.99% stake.

As per the company's term sheet, SPE Mauritius Investments Limited will pay to Essel an aggregate amount of US$ equivalent of over Rs 10 bn towards the non-compete obligations.

Further, the promoters of Zee have agreed to own not more than 20% of its outstanding shares. The promoters or founders of Zee do not have any rights to acquire equity in the combined company from the Sony Group.

SPE was advised on this transaction by the likes of Morgan Stanley, KPMG, Shardul Amarchand Managaldas. Zee was advised by KPMG, JP Morgan, Trilegal, and Boston.

Zee Entertainment's share price ended the day down by 0.1% on the BSE.

Moving on to news from the chemicals sector...

Deepak Nitrite's board has approved raising funds of up to Rs 20 bn through qualified institutional placement (QIP), the company informed the stock exchanges today.

'The board approved raising of funds through issuance of equity shares of the company or any other equity-linked securities or other securities convertible into or exchangeable for equity shares by way of QIP in one or more of the tranches for an aggregate amount up to Rs 20 bn', the company said

The transaction is subject to approval of members of the company and subject to such other permissions, sanctions and statutory approvals, as may be required.

Further, Deepak Nitrite will seek approval of shareholders of the company for raising funds through Postal Ballot.

Deepak Nitrite is a chemical manufacturing company. The company's segments include basic chemicals, fine and specialty chemicals, performance products and phenolics.

Deepak Nitrite's share price ended the day up by 2.5% on the BSE.

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