Mumbai— Defense stocks extended their strong rally on Wednesday, with several top companies posting gains of up to 5% during intraday trading, fueled by robust investor sentiment and a broader market recovery.
Shares of Bharat Electronics Limited (BEL), Solar Industries, Bharat Dynamics, and Hindustan Aeronautics Limited (HAL) led the charge, recording sharp upward moves.
BEL emerged as the top performer, closing 5.26% higher at ₹382.26 on the National Stock Exchange (NSE), after hitting a new all-time high of ₹383.90 earlier in the session. The stock has now gained nearly 28% over the past month, indicating strong institutional buying.
Solar Industries, a prominent private-sector defense player, also saw a significant jump, ending the day 5.26% higher at ₹14,198. It touched an intraday high of ₹14,306, just shy of its record high of ₹14,339. Over the past month, the stock has returned 13.81%.
Bharat Dynamics Ltd climbed 4.68% to ₹1,882, continuing its bullish streak with a 31.85% gain over the last month.
Data Patterns (India) Limited posted a strong performance as well, rising 4.34% to ₹2,754, bringing its one-month gain to over 40%.
HAL added 3.13%, boosting its monthly gain to 16.10%, while Mishra Dhatu Nigam rose 2.64% to ₹407.90, with a one-month return of more than 37%.
The rally in defense stocks came alongside a broader market rebound, following a dip in the previous session. On Wednesday, benchmark indices bounced back sharply, reflecting renewed buying interest across sectors.
The Sensex jumped 410.19 points (0.51%) to close at 81,596.63, while the Nifty advanced 129.55 points (0.52%) to settle at 24,813.45.
Mid- and small-cap stocks also joined the rally. The Nifty Midcap 100 index climbed 436.95 points (0.78%) to 56,619.60, and the Nifty Smallcap 100 added 65.60 points (0.38%) to close at 17,548.60. (Source: IANS)
