Defence stocks came under profit-taking pressure on Wednesday, with the Nifty India Defence index falling 1.5% and snapping a five-session winning streak. The decline followed a sharp rally in the previous session, triggered by the Department of Defence Production (DDP) under the Ministry of Defence notifying the sixth Positive Indigenisation List (PIL). The list includes 405 strategically important defence items with an estimated business potential of Rs 3,070 crore, reinforcing expectations of higher domestic opportunities for defence manufacturers. Among individual stocks, Solar Industries India and MTAR Technologies fell 3.2% and 2.9%, respectively. Bharat Dynamics, Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, Hindustan Aeronautics and Bharat Electronics also declined, with losses of up to 3%. Data Patterns (India) and Aequs were the only constituents of the defence index trading in positive territory, bucking the broader sectoral weakness.

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