New Delhi, Sept. 4 -- Defence stocks traded lower on Thursday's trading session, even as Indian equity markets saw a rebound on the backdrop of the government's decision to streamline Goods and Services Tax (GST) rates, which lifted investor confidence. The 56th GST council on Wednesday made a decision to simplify GST rates to two levels: 5% and 18%, by combining the 12% and 28% rates.

However, shares of Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL), Mazagon Dock Shipbuilders Ltd, Garden Reach Shipbuilders & Engineers Ltd, and Bharat Dynamics Ltd (BDL) were down by 1-4%.

Ruchit Jain, VP - Equity Technical Research, Motilal Oswal Financial Services Ltd highlighted that the defence stocks have corrected in last one month a...