Defence-related stocks end higher for 2nd straight day

New Delhi: Defence-related stocks ended higher on Monday in line with a sharp rally in the equity market.

Expectations of increased focus on the sector drove defence stocks higher for the second day in a row.

Shares of Axiscades Technologies jumped 5 per cent, Data Patterns (India) Ltd surged 3.88 per cent, Mishra Dhatu Nigam Ltd climbed 3.40 per cent, Bharat Electronics rallied 2.23 per cent, DCX Systems advanced 1.61 per cent and Garden Reach Shipbuilders & Engineers Ltd went up by 1.37 per cent on the BSE.

Drone manufacturers Ideaforge Technology Ltd surged 6.09 per cent and Droneacharya Aerial Innovations jumped 4.99 per cent.

India and Pakistan on Saturday announced reaching an understanding to stop all firings and military actions on land, air and sea.

After opening on a strong note, the 30-share BSE Sensex jumped 2,975.43 points or 3.74 per cent to settle at a more than seven-month high of 82,429.90. During the day, it rallied 3,041.5 points or 3.82 per cent to a high of 82,495.97.

The 50-issue Nifty of NSE skyrocketed 916.70 points or 3.82 per cent to close at 24,924.70. In intra-day trade, the barometer zoomed 936.8 points or 3.90 per cent to 24,944.80.

India launched 'Operation Sindoor' in the early hours of May 7 to destroy nine terror infrastructures in Pakistan and Pakistan-Occupied-Kashmir in retaliation to the Pahalgam terror attack.