Police raced to the scene at the taxi rank in the town’s Lower Newmarket Street in the early hours of Monday morning after reports a man had been attacked.
The 34-year-old victim, who has not been named, was rushed to Forth Valley Royal Infirmary in Larbert with a serious, but not life-threatening head injury, and later transferred to Western General in Edinburgh where he continues to be treated.
The road was closed to pedestrians and traffic for most of Monday morning as forensic experts carried out a painstaking search for clues.
Enquiries into the incident are on-going and the CID would like to extend their sincere thanks to the public for their assistance so far.
Police Scotland has confirmed a report will be sent to the Procurator Fiscal.