The Indian defence sector has seen a dramatic rise in market capitalisation, gaining ₹86,211 crore since the Pahalgam terror attack that killed 26 people.
This surge followed Operation Sindoor, a large-scale, tri-service precision strike by the Indian armed forces on terror bases in Pakistan and Pakistan-occupied Kashmir (Pok).
Defence Stocks Outperform Broader Market
The Nifty India Defence Index surged 9.39% since the operation began, far outpacing the benchmark Nifty’s 1.98% rise in the same period.
Paras Defence and Space Technologies led the rally with a nearly 40% jump in share value. Garden Reach Shipbuilders saw a rise of over 28%, while Mishra Dhatu Nigam and Bharat Dynamics each gained more than 26%.
Data Patterns India and DCX Systems also posted strong gains, climbing over 20% each.
Major Companies Drive Market Capitalisation Gains
Bharat Electronics Ltd (BEL) added ₹23,683 crore to the sector’s market value. Hindustan Aeronautics Ltd (HAL) contributed ₹21,654 crore, and Bharat Dynamics added ₹12,345 crore.
Mazagon Dock Shipbuilders and Solar Industries contributed ₹9,971 crore and ₹6,859 crore, respectively.
Despite geopolitical tensions and intra-day market volatility, investor confidence in defence stocks remained strong. The domestic defence sector stood out as a top performer on Wednesday, reflecting growing investor faith in India’s military and strategic capabilities.
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