Markets Daily India

India’s Defense Stocks Are Back in the Spotlight on EU Trade Pact

A Nifty gauge of defense stocks is up over 8% this week.

Indian Army’s Pralay missile system during the 2025 Republic Day parade in New Delhi. Photographer: Prakash Singh/Bloomberg

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By Alex Gabriel Simon, Ashutosh Joshi, and Pratigya Vajpayee

January 30, 2026 at 2:45 AM UTC

This article is for subscribers only.

Good morning...

I’m Ashutosh Joshi, an equities reporter in Mumbai, with the news and analysis you need before the start of the Indian trading day.

Finally, stocks at home are having a good week, and I hope I don’t jinx it. From a three-day advance in the Nifty to rising investor interest in some sectors such as defense (more on that below), there are signs that sentiment may be on the mend. So let’s see if the Nifty is able to sustain its momentum amid mixed cues from overseas markets early Friday. A gauge of Asian shares is down as investors await President Donald Trump’s announcement of his pick for Fed chair. And finally, the LME delayed the start of trading due to a technical snag, capping a wild week for global metals traders.

Remember there’s a special trading session in India on Sunday, when the finance minister will deliver the federal budget. Menaka Doshi will bring you the highlights with the India Edition that evening. And then we will tell you all about the potential market impact in our special budget edition on Monday.