New Delhi, May 14 -- Defence stocks witnessed a sharp surge on Wednesday, with shares of Garden Reach Shipbuilders & Engineers, Cochin Shipyard, Bharat Dynamics, Hindustan Aeronautics, and others rallying up to 18%. The rally followed the successful execution of Operation Sindoor and Prime Minister Narendra Modi's address, in which he commended India's growing defence capabilities.

The upbeat sentiment lifted the Nifty India Defence Index by over 3% on Wednesday, marking its fourth consecutive session of gains. The index has advanced nearly 13% in the last four sessions.

Garden Reach Shipbuilders & Engineers share price emerged as the top gainer, surging 18.25%, followed by Cochin Shipyard shares, which rallied 14%. Other notable gainer...