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Defence stocks will continue to remain in focus this week after the latest developments on the border between India and Pakistan.

Drone manufacturing companies like ideaForge and Zen Technologies surged up to 20% on Friday, while other stocks like Bharat Dynamics, Mazagon Dock, also saw healthy gains.

In what was a fairly resilient performance from the stock market, despite escalating tensions between India and Pakistan on the border, the Nifty fell only 1.5% last week and held on to the 24,000 level on the downside.

The broader markets saw sharper swings on either side compared to the benchmarks but also clawed back most of their losses. The Nifty Midcap index fell 0.9% last week, while the Smallcap index ended 2.2% lower for the week.

On Saturday evening, India and Pakistan announced a halt to military actions, developments that had kept stock markets on the edge all of last week.

Briefing by officials from the Indian armed forces on Sunday evening highlighted that all Indian pilots are back home safe and that the call to initiate the stoppage of military action came from Pakistan’s side.

The first tick on the GIFT Nifty will take place at 6:30 IST.

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Indian equities are set to react to multiple global developments over the weekend, including a halt to military action between India and Pakistan, along with US-and China making substantial progress in trade talks.

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