India's Nifty defence index gains for seventh straight day, capping best week since May 2025

Cochin Shipyard

10/04/2026 06:55

**India's Nifty defence sub-index <.NIFTYINDDEFENCE> gains nearly 2%,  on track for a seventh straight session of gains

** Index trading at its highest level in a month, set for strongest weekly performance since May 2025

** The gauge, which includes stocks such as Bharat Electronics BAJE.NS, Hindustan Aeronautics HIAE.NS, Cochin Shipyard COCH.NS, and Paras Defence and Space Technologies PRAF.NS - has not posted a single decline since the start of the month

** Data released on April 2 shows that India's defence exports surged 62% for the fiscal year to March surged 62%, highlighting the sector's deeper integration into global supply chains and growing international acceptance.

** India has pushed to manufacture everything from guns and drones to fighter jets and submarines at home

** The index's 50-day moving average is nearing a move above its 200-day moving average - a pattern widely known as a "golden cross," - commonly viewed as a technical signal of a potential long-term bullish trend and buying opportunity

** YTD index up 7.4%, while benchmark Nifty 50 .NSEI down 8.1%

(Reporting by Pranav Kashyap in Bengaluru)

((pranav.kashyap@tr.com; +919886482111;))