Defence Stocks Gain Up To 16% As Sector Gains Ground For Seventh Straight Day
5paisa Capital Ltd
- 2 min read
Last Updated: 10th April 2026 - 07:26 pm
Summary:
Defence stocks gained between 14-16% on April 10th, as the Nifty India Defence index climbed by 1.4% to record seven days of positive momentum.
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Stocks in the defence sector rose sharply by up to 16% on April 10th, as the Nifty India Defence index moved up 1.4%. The index has gained more than 14% over the past seven trading sessions, with 17 out of its 19 constituents trading in positive territory during the session.
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Aequs emerged as the top performer among defence stocks, rising 16% during the session. Bharat Forge advanced 3.43%, while Dynamatic Technologies gained 2.9%. Important other stocks in the sector that witnessed an increase of 1-2% were Hindustan Aeronautics, Mazagon Dock Shipbuilders, and Paras Defence & Space Technologies.
Sector Performance And Market Direction
The uptick in the defense stocks was in line with the overall market direction. Benchmark indices moved higher during the session, supporting sectoral advances.
Market sentiment was buoyed by events surrounding a potential cease-fire agreement between the U.S. and Iran, leading to lower levels of geopolitical risk in the near future.
Stock-Specific Movement
Hindustan Aeronautics has seen a decline of 22% over the past six months, compared to an 8% fall in the Nifty during the same period, according to JM Financial.
The target price for the stock set by the brokerage firm is ₹4,875, implying a 21% upside possibility from current prices.
Defence Stocks Witnessed Wider Participation
The increase was widespread across the defence industry, with many of the companies that are part of the Nifty India Defence Index contributing to the upswing.
The persistent rise over several trading periods is indicative of strong demand for defence stocks amid the positive momentum in the overall market.
The industry remained positively correlated to the market performance throughout the period, with some stocks increasing in value alongside the rising index.
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