Stock Market Update

Key Takeaways

• Defence stocks experienced strong buying interest in early morning trading despite the overall stock market crash on Wednesday.
• Tejas Networks, a provider of critical communication infrastructure to the armed forces, saw its share price surge by 8%.
• Other defence stocks, including Paras Defence, Zen Technologies, Solar Industries India Ltd, and ideaForge Technology, also saw significant gains, with share prices increasing by 8%, 4%, 3%, and 5% respectively.

Investor Sentiment

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According to stock market experts, investors are shifting their focus to core defence stocks that specialise in war equipment, such as drones, fighter jets, and missiles. This trend is driven by the escalating US-Iran war, which is expected to continue for a few more weeks.

Market Analysis

The Indian government's recent defence deals with Germany, France, the EU, and Israel are expected to benefit war equipment maker companies, which are expected to gain momentum due to the Mission Sudarshan Chakra aimed at developing a multi-layer air defence system in India by 2035.

Market Performance

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The Indian stock market suffered sharp losses in morning trade on 4 March 2026, with the Sensex crashing by 1,800 points or 2.2%, and the Nifty 50 plummeting by 550 points or 2.3%. The midcap and small-cap indices on the BSE also crashed by over 2% each.