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DefenceMedium impactAfter close

Defence stocks face volatility after budget capex boost

after close1 source ↓written by the desknot a recommendation

in capital spending
21.8% increase
defence budget
₹7.84 trillion

India’s defence stocks are poised for volatility following a 21.8% increase in capital spending from the Union Budget, raising long-term growth prospects. However, stretched valuations and execution risks could impact near-term returns. Brokerages highlight Bharat Electronics (BEL) and Hindustan Aeronautics (HAL) as key players amid a ₹7.84 trillion defence budget for FY27.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 2 Feb 2026, 16:10 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

BEL closed 0.0% on the day of the news, from ₹439.10 to ₹438.95; Nifty +2.5% over the same session; futures OI −1.1%.

Bulletin at 16:10 IST on 2 Feb 2026. Every change is measured from ₹439.10, the last close before it, on 2 Feb. Nifty 50 is measured over the same sessions.

  • BEL close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
  • futures OI, lots
BEL closes around the bulletin against the close before the news, with Nifty 50 rebased to it403.27439.10474.93axis spans 18%before the news · 2 Feb439.10Nifty 50BELbulletinD0+1+3+528 Jan6 Feb17 FebFutures open interest, lotspeak 88,000Reference close ₹439.10. 16 sessions from 28 Jan to 17 Feb; the price axis spans 18 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before2 Feb₹439.10basebase
On the day3 Feb₹438.950.0%▲ +2.5%−2.6 pp difference
+1 session4 Feb₹439.200.0%▲ +2.7%−2.7 pp difference
+3 sessions6 Feb₹429.65▼ −2.1%▲ +2.4%−4.6 pp difference
+5 sessions10 Feb₹437.30▼ −0.4%▲ +3.4%−3.8 pp difference
Gap at the open, % · ₹
▲ +4.8%+20.90 on 3 Feb
Day's range, % · ₹
5.6%≈ 25 high to low
Volume on the day
0.96×the 20-session average
Futures OI on the day
▼ −1.1%−860 lots · long unwinding · price 0.0%
Futures OI open, lots
79,0003 Feb · 24 Feb expiry
Futures premium, ₹
+1.50+0.3% to spot
Puts per call, by OI
0.43from 0.44 the session before
Max pain
435from 430 the session before

Source NSE UDiFF bhavcopy · BEL on the desk →

Thread · BELAll BEL bulletins →

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