SENSEX holds over 350-point gain, NIFTY50 hovers around 25,000; Avanti Feeds, Trident, YES Bank among buzzing stocks

The Indian equity benchmarks gave up some intraday gains in noon deals owing to profit booking in Mahindra & Mahindra, Maruti Suzuki and Eternal. The SENSEX rose as much as 543 points and NIFTY50 index surpassed its important psychological level of 25,000 led by gains in index heavyweights like Infosys, Tata Consultancy Services, Axis Bank, State Bank of India, Bajaj Finance and Bharat Electronics.

As of 12:15 pm, the SENSEX was up 368 points at 81,469 and NIFTY50 index advanced 127 points to 24,995.

The US President Donald Trump on Tuesday said that India and US will resume trade talks to address trade barriers between the two nations.

"I am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two Nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!," Trump wrote on his social media platform TruthSocial.

He added he was confident in reaching “a successful conclusion for both of our Great Countries.”

Modi responded on X, calling the United States and India “close friends and natural partners.”

Following this development shares of Coastal Corporation were locked in 20% upper circuit at ₹37.57, Apex Frozen Foods surged as much as 20% to hit an intraday high of ₹263, Avanti Feeds climbed as much as 15% to hit an intraday high of ₹756 and Waterbase advanced 12.5% to hit an intraday high of ₹55.

The development comes as a positive news for Indian fisheries companies as they were badly hit after the United States imposed 50% tariffs on Indian merchandise last month. Most of the fisheries companies in India earn major chunk of revenue by exporting their products.

"This significant expansion reflects the growing confidence in India's food safety and quality assurance systems and marks a major step forward in enhancing market access for Indian seafood products specially aquaculture shrimps and Cephalopods (Squid, Cuttle fish and Octopus)," Ministry of Commerce and Industry said in a press release.

The approval allows two nominee directors to be appointed by SMBC and one by the State Bank of India (SBI) to join the bank’s board of directors. These appointments will happen once the related transactions, as per the agreement, are completed.

However, the changes are contingent upon the completion of transactions outlined in the SPA and other related agreements.

The development came after the channel last month reported that the government had made it clear that it won't support the debt-laden carrier. Minister of State for Communications Chandra S Pemmasani told the channel that the government had already extended support by converting nearly ₹53,000 crore of dues into equity in 2021 and getting a 49% stake in the company.

In Q1FY26, the company’s revenue for the quarter jumped almost 80% at ₹1135 crore as against ₹632 crore in the same quarter last year. However, on a sequential basis, the total revenue from operations declined marginally by 4% from ₹1,183 crore in the previous quarter.

People familiar with the matter told the news portal that the Life Insurance Council is expected to meet the chairman of the Insurance Regulatory and Development Authority of India (IRDAI) soon, seeking support before taking the issue to the government.

The allotment of equity shares in respect of the said investment was completed on September 9 by FEPL and FE10.