New Delhi, May 15 -- Shares of Bharat Electronics, Bharat Dynamics, Mazagon Dock Shipbuilders, BSE, and Hitachi Energy India are among 23 Nifty 500 stocks that recorded fresh 1-year highs this week, as sentiment improved on Dalal Street-driven by both domestic and global cues-prompting investors to shift back to equities.

The rally was led by defence stocks, as their demand surged following renewed tensions between India and Pakistan. Even though the conflict has paused, the rally in defence stocks has continued, driven by expectations that India will expand its defence spending further.

After delivering hefty returns to investors during the first half of the last calendar year, defence stocks witnessed profit booking due to concerns ov...