The Nifty India Defence index declined over 1 percent, with 10 of its 18 constituents trading in the red.
Analysts said that while geopolitical tensions could keep markets jittery in the near term, India’s calibrated approach may reduce the chances of retaliatory escalation from Pakistan.
Dr. Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital, said the strikes—referred to as “Operation Sindoor”