Defence stocks rally for second day amid India Pakistan tension
Shares of Axiscades Technologies jumped 5 per cent, while Data Patterns (India) Ltd rose 3.88 per cent. Mishra Dhatu Nigam Ltd gained 3.40 per cent, and Bharat Electronics Ltd rallied 2.23 per cent. Other notable gainers included DCX Systems, which advanced 1.61 per cent, and Garden Reach Shipbuilders & Engineers Ltd, up 1.37 per cent on the BSE.
Drone manufacturing companies
also saw strong interest. Ideaforge Technology Ltd surged 6.09 per cent, and Droneacharya Aerial Innovations rose 4.99 per cent, news agency PTI reported.
The rally in
defence stocks
mirrored a sharp rebound in the broader market. The benchmark 30-share BSE Sensex soared 2,975.43 points, or 3.74 per cent, to settle at a seven-month high of 82,429.90. During the day, it spiked 3,041.5 points, or 3.82 per cent, to an intraday high of 82,495.97.
Similarly, the
NSE Nifty 50
jumped 916.70 points, or 3.82 per cent, to close at 24,924.70, after touching an intraday peak of 24,944.80, up 936.8 points.
The positive sentiment in defence stocks followed recent geopolitical developments. India and Pakistan announced on Saturday an understanding to halt all military actions across land, air, and sea borders, a move expected to ease tensions.
This came after India launched 'Operation Sindoor' on May 7, targeting nine terror infrastructure sites in Pakistan and Pakistan-Occupied-Kashmir in response to the recent terror attack in Pahalgam.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
10 minutes ago
- Business Standard
US-India trade talks, TCS earnings likely to drive markets this week
Equity investors are up for an eventful trading week ahead as the 90-day suspension period of the reciprocal tariffs announced by US President Donald Trump ends on July 9, analysts said, adding that a positive outcome from the trade negotiations could further lift market sentiment, particularly benefiting trade-sensitive sectors. Besides, Q1 earnings from IT major TCS and foreign fund movement would also dictate sentiment at the Dalal Street, experts said. July 9 marks the end of the 90-day suspension period of the Trump tariffs imposed on dozens of countries, including India. An additional import duty of 26 per cent was announced on Indian goods entering the US. "This week holds significant importance not only for Indian markets but for global equities as well. The most anticipated event is the outcome of the US trade (tariff) deadline on July 9, which could shape global trade dynamics. Investors will also closely monitor the release of the US FOMC (Federal Open Market Committee) minutes on the same day," Ajit Mishra SVP, Research, Religare Broking Ltd, said. Domestically, the spotlight will shift to corporate earnings, with IT major TCS and retail giant Avenue Supermarts among the prominent companies scheduled to report their quarterly results, setting the tone for the Q1 earnings season, he added. Movement in global oil benchmark Brent crude and the rupee-dollar trend would also be monitored by investors this week. "A positive outcome from the US-India trade negotiations could further lift market sentiment, particularly benefiting trade-sensitive sectors like IT, pharma, and auto. Considering the broader indices currently trading at elevated levels, the market participants will closely watch for signs of earnings catch-up from upcoming Q1starting this week," Vinod Nair, Head of Research, Geojit Investments Limited, said. Last week, the BSE benchmark Sensex dropped 626.01 points or 0.74 per cent, and the NSE Nifty declined 176.8 points or 0.68 per cent. "Overall, we expect the market to remain in consolidation mode, awaiting clarity on the India-US trade deal; while stock specific action would continue on the back of Q1 FY26 business updates ahead of the earnings season starting this week," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said. On foreign fund flows, V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, "Resumption of FII (Foreign Institutional Investors) buying will hinge on two things: One, if a trade deal happens between India and US that will be positive for markets and FII flows; two, Q1 FY26 result indications. If the results indicate earnings recovery, that will be positive. Disappointment on these factors can impact the market and, thereby, FII flows.
Time of India
18 minutes ago
- Time of India
M-cap of 6 of top 10 most valued firms drops by Rs 70,325 crore; HDFC, ICICI Bank top drags
The combined market valuation of six of the top-10 valued firms eroded by Rs 70,325.5 crore last week, with HDFC Bank and ICICI Bank emerging as the worst-hit in line with a bearish trend in equities. Last week, the BSE benchmark Sensex dropped 626.01 points or 0.74 per cent. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 무릎에서 소리나거나 무거운 느낌 드는 분만 읽으세요. 큰딸민지 더 알아보기 Undo In the top-10 pack, Reliance Industries , State Bank of India , Infosys and Hindustan Unilever Ltd were the gainers, while HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel , ICICI Bank, Life Insurance Corporation of India (LIC) and Bajaj Finance faced erosion from their market valuation. HDFC Bank's valuation declined by Rs 19,284.8 crore to Rs 15,25,339.72 crore. ICICI Bank lost Rs 13,566.92 crore in its market valuation which stood at Rs 10,29,470.57 crore. The valuation of Bajaj Finance dropped by Rs 13,236.44 crore to Rs 5,74,977.11 crore and that of LIC diminished by Rs 10,246.49 crore to Rs 5,95,277.16 crore. Live Events TCS faced an erosion of Rs 8,032.15 crore from its market capitalisation (mcap) which stood at Rs 12,37,729.65 crore. The mcap of Bharti Airtel fell by Rs 5,958.7 crore to Rs 11,50,371.24 crore. However, the market valuation of Reliance Industries jumped Rs 15,359.36 crore to Rs 20,66,949.87 crore. Infosys added Rs 13,127.51 crore in its valuation to Rs 6,81,383.80 crore. The mcap of Hindustan Unilever climbed Rs 7,906.37 crore to Rs 5,49,757.36 crore and that of State Bank of India went up by Rs 5,756.38 crore to Rs 7,24,545.28 crore. In the ranking of top-10 firms, Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.
Economic Times
18 minutes ago
- Economic Times
M-cap of 6 of top 10 most valued firms drops by Rs 70,325 crore; HDFC, ICICI Bank top drags
The combined market valuation of six of the top-10 valued firms eroded by Rs 70,325.5 crore last week, with HDFC Bank and ICICI Bank emerging as the worst-hit in line with a bearish trend in equities. ADVERTISEMENT Last week, the BSE benchmark Sensex dropped 626.01 points or 0.74 per cent. In the top-10 pack, Reliance Industries, State Bank of India, Infosys and Hindustan Unilever Ltd were the gainers, while HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, Life Insurance Corporation of India (LIC) and Bajaj Finance faced erosion from their market valuation. HDFC Bank's valuation declined by Rs 19,284.8 crore to Rs 15,25,339.72 crore. ICICI Bank lost Rs 13,566.92 crore in its market valuation which stood at Rs 10,29,470.57 crore. The valuation of Bajaj Finance dropped by Rs 13,236.44 crore to Rs 5,74,977.11 crore and that of LIC diminished by Rs 10,246.49 crore to Rs 5,95,277.16 crore. TCS faced an erosion of Rs 8,032.15 crore from its market capitalisation (mcap) which stood at Rs 12,37,729.65 crore. ADVERTISEMENT The mcap of Bharti Airtel fell by Rs 5,958.7 crore to Rs 11,50,371.24 crore. However, the market valuation of Reliance Industries jumped Rs 15,359.36 crore to Rs 20,66,949.87 crore. ADVERTISEMENT Infosys added Rs 13,127.51 crore in its valuation to Rs 6,81,383.80 crore. The mcap of Hindustan Unilever climbed Rs 7,906.37 crore to Rs 5,49,757.36 crore and that of State Bank of India went up by Rs 5,756.38 crore to Rs 7,24,545.28 crore. In the ranking of top-10 firms, Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.
