Stock market live: Coforge, RVNL, Redington sees sharp rise as markets rebound after 10-day slump

NIFTY and SENSEX bounced back today, snapping its 10-day losing streak on hopes of a tariff compromise deal.

Late Tuesday night, US Commerce Secretary Howard Lutnick said that the US president may announce tariff compromise deals with Canada and Mexico on Wednesday. The move comes within hours of the US implementing 25% tariffs on imports from its neighbours and 20% tariffs on goods imported from China.

Reacting to the development, Asian markets opened in the green on Wednesday. Chinese markets also gained as the country's top leaders began their annual parliamentary meetings by unveiling key economic targets that raised expectations for more stimulus measures.

Amid the broader rally in equities, Indian shares also posted a sharp recovery on Wednesday, with a few stocks rallying up to 10%.

High-volume buzzers

A few stocks witnessed a sharp rise in trading volumes on Wednesday, with the biggest surge coming in at the Avanti Feeds counter.

Data showed that the number of Avanti feeds shares that changed hands by 11 a.m. on Wednesday was already over 4.6 times higher than the daily average on the stock counter.

Notably, Avanti Feeds is in the spotlight after Thailand-based Thai Union Group on Tuesday divested 4.4% stake in the company for ₹435 crore through an open market transaction. The shares were disposed of at an average price of ₹728 apiece and were bought by IIFL Facilities Services Ltd.

Similarly, volumes at the Coforge counter were 3.4 times higher than the daily average.