Can the Indian stock market surge just because of the news of a global conflict? This was seen on Monday, January 5, when the increasing geopolitical tensions between America and Venezuela had an impact on Indian defense stocks. As soon as the market opened, strong buying was seen in the defense sector and the inclination of investors increased towards defense manufacturing companies. Amid growing global uncertainty, the Nifty India Defense Index rose nearly 2% to 7,931, which is the highest level in a month. Experts believe that the rally was strengthened by expectations that tensions would last longer. MTAR Technologies rose 5%, Paras Defense and BEL around 3%. HAL, BDL, Data Patterns, Astra Microwave, Solar Industries and shipbuilding stocks like Cochin Shipyard and Mazagon Dock also gained up to 2%.
Defense Stocks broke all records due to America-Venezuela Tension. Money Live | US-Venezuela Tensions Cause Defense Stocks to Break All Records
