{"id":13,"date":"2025-06-03T08:42:11","date_gmt":"2025-06-03T08:42:11","guid":{"rendered":"http:\/\/69.62.72.40\/wordpress\/?p=13"},"modified":"2025-06-10T08:23:14","modified_gmt":"2025-06-10T08:23:14","slug":"impact-of-major-wars-on-indias-nifty-50-1996-present","status":"publish","type":"post","link":"https:\/\/insights.sihoresearch.com\/index.php\/2025\/06\/03\/impact-of-major-wars-on-indias-nifty-50-1996-present\/","title":{"rendered":"Impact of Major Wars on India\u2019s Nifty 50 (1996\u2013 Present)"},"content":{"rendered":"\n<p>Impact of Major Wars on India\u2019s Nifty 50 (1996\u2013 Present)<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Kargil War (May\u2013July 1999)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The Kargil War (3 May\u201326 July 1999) saw the Nifty 50 begin near&nbsp;<strong>978<\/strong>&nbsp;on 30 April 1999, just before the conflict escalated. Using historical NSE data, one trading day later (4 May), the index rose to approximately&nbsp;<strong>1008<\/strong>&nbsp;(+3.08%). It continued to rally over the following weeks. About one week later (10 May), Nifty was up around&nbsp;<strong>10.6%<\/strong>&nbsp;(\u22481094), and by one month later (3 June), it had increased roughly&nbsp;<strong>16.2%<\/strong>&nbsp;to&nbsp;<strong>1136<\/strong>. By three months after (3 August), it had surged&nbsp;<strong>31.0%<\/strong>&nbsp;from the start, reaching approximately&nbsp;<strong>1285<\/strong>. Overall, the markets dipped only briefly and then recovered strongly during this conflict.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F312aff62-cf64-427a-adf2-29498b2a65db_1060x530.png\" alt=\"kargil War\" style=\"width:638px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">War in Afghanistan (Oct 2001\u2013Aug 2021)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The U.S.-led invasion of Afghanistan began on&nbsp;<strong>7 October 2001<\/strong>. Just before the conflict (on 5 October), the Nifty 50 index was around&nbsp;<strong>914<\/strong>. By the next trading day (8 October), the index declined slightly to approximately&nbsp;<strong>901.95<\/strong>, a&nbsp;<strong>\u22121.4%<\/strong>&nbsp;drop. However, the market began recovering shortly thereafter\u2014within a week (12 October), the index had climbed to about&nbsp;<strong>960<\/strong>, a&nbsp;<strong>+5%<\/strong>&nbsp;gain from the pre-conflict level. By one month later (7 November), it stood at&nbsp;<strong>987.5<\/strong>&nbsp;(+7.9%), and by three months (7 January 2002), the index had rallied to roughly&nbsp;<strong>1100<\/strong>, marking a solid&nbsp;<strong>+20.0%<\/strong>&nbsp;increase. Overall, despite an initial dip, the market recovered steadily during the prolonged conflict.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe883b664-625d-4a57-bf9e-d354b648f452_860x414.png\" alt=\"Afghanistan War\" style=\"width:553px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Parliament Attack (Dec 2001)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The attack on the Indian Parliament occurred on&nbsp;<strong>13 December 2001<\/strong>, triggering geopolitical tension and uncertainty. Just before the incident (on 12 December), the Nifty 50 index was around&nbsp;<strong>1107<\/strong>. By the next trading day (14 December), the index had dropped to approximately&nbsp;<strong>1087<\/strong>, a&nbsp;<strong>\u22121.7%<\/strong>&nbsp;decline. A week later (21 December), it fell further to about&nbsp;<strong>1050<\/strong>, down&nbsp;<strong>\u22125.1%<\/strong>&nbsp;from the pre-attack level. However, the market began stabilizing in the following weeks. By one month later (11 January 2002), the index returned to around&nbsp;<strong>1088<\/strong>&nbsp;(\u22121.7%), and by three months (13 March 2002), it had recovered to roughly&nbsp;<strong>1157<\/strong>, a&nbsp;<strong>+4.4%<\/strong>&nbsp;gain over the pre-attack level. Despite initial volatility, the market showed resilience and gradual recovery after the event.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3ffe1af4-71a5-484d-a826-86551e8b9c7b_970x476.png\" alt=\"Parliament attack\" style=\"width:619px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Iraq War (March 2003 Onwards)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The&nbsp;<strong>Iraq War<\/strong>&nbsp;began on&nbsp;<strong>20 March 2003<\/strong>. On the day before the outbreak (<strong>19 March<\/strong>), the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;stood at&nbsp;<strong>1003.9<\/strong>. On&nbsp;<strong>21 March 2003<\/strong>&nbsp;(the next trading day), the index rose to&nbsp;<strong>1030.55<\/strong>, reflecting a&nbsp;<strong>+2.4%<\/strong>&nbsp;gain, possibly due to clarity around the onset of conflict. However, by&nbsp;<strong>28 March<\/strong>&nbsp;(one week later), the index had slipped to&nbsp;<strong>1000.60<\/strong>, a slight&nbsp;<strong>\u22120.3%<\/strong>&nbsp;decline from pre-war levels. Over the next month, the index declined further to around&nbsp;<strong>947.20<\/strong>&nbsp;by&nbsp;<strong>21 April 2003<\/strong>, marking a&nbsp;<strong>\u22125.6%<\/strong>&nbsp;drop. Interestingly, by&nbsp;<strong>20 June 2003<\/strong>&nbsp;(three months after the conflict began), the Nifty rebounded to approximately&nbsp;<strong>1100.2<\/strong>, representing a&nbsp;<strong>+8.7%<\/strong>&nbsp;rise from pre-conflict levels. This reflects early volatility, short-term pessimism, and then a significant recovery\u2014likely driven by market reassessment of the conflict\u2019s impact and improving investor sentiment.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff9d35f68-437f-418b-9592-fff06cd01834_1024x446.png\" alt=\"Iraq War\" style=\"width:517px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Mumbai Terror attack (Nov 2008)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The&nbsp;<strong>26\/11 Mumbai terror attacks<\/strong>&nbsp;began on&nbsp;<strong>26 November 2008<\/strong>. Just before the incident (25 November), the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;stood at approximately&nbsp;<strong>2654<\/strong>. Surprisingly, the market responded positively in the immediate aftermath\u2014by the next trading day (28 November), it had risen to around&nbsp;<strong>2755.10<\/strong>, marking a&nbsp;<strong>+3.8%<\/strong>&nbsp;gain. A week later (5 December), the index remained relatively higher at&nbsp;<strong>2714.40<\/strong>&nbsp;(<strong>+2.2%<\/strong>&nbsp;vs pre-attack). Momentum continued through the following month, with the Nifty reaching&nbsp;<strong>2857.25<\/strong>&nbsp;by 26 December (<strong>+7.1%<\/strong>). Although some gains cooled off, by three months (26 February 2009), it still held at&nbsp;<strong>2785.65<\/strong>, up&nbsp;<strong>+4.9%<\/strong>&nbsp;from pre-attack levels. This recovery pattern underscores the market\u2019s resilience, even amid severe domestic security shocks, as broader economic factors began to weigh more heavily than short-term geopolitical events.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a class=\"image-link image2 is-viewable-img\" href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bfb201c-0e8e-4b72-9b26-e6f542a15898_1014x480.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7bfb201c-0e8e-4b72-9b26-e6f542a15898_1014x480.png\" alt=\"Mumbai terror attack\" style=\"width:668px;height:auto\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Uri attack and Surgical Strike (Sep 2016)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The&nbsp;<strong>Uri terror attack<\/strong>&nbsp;occurred on&nbsp;<strong>18 September 2016<\/strong>, with heightened geopolitical tensions emerging immediately afterward. On the last trading day before the attack (<strong>16 September<\/strong>), the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;stood at around&nbsp;<strong>8,779<\/strong>. When the markets reopened on&nbsp;<strong>19 September<\/strong>, the index edged slightly up to&nbsp;<strong>8,808<\/strong>, reflecting a&nbsp;<strong>+0.3%<\/strong>&nbsp;gain, suggesting a muted immediate reaction. However, by&nbsp;<strong>28 September<\/strong>&nbsp;(a week later), it had dipped slightly to&nbsp;<strong>8,745.15<\/strong>, down&nbsp;<strong>\u22120.3%<\/strong>&nbsp;from pre-attack levels. The decline continued over the next month, with the index reaching around&nbsp;<strong>8,677.90<\/strong>&nbsp;by&nbsp;<strong>18 October<\/strong>, marking a&nbsp;<strong>\u22121.5%<\/strong>&nbsp;drop. By the three-month mark (<strong>18 December<\/strong>), the index had declined further to about&nbsp;<strong>8,139.45<\/strong>, showing a&nbsp;<strong>\u22127.2%<\/strong>&nbsp;decrease from the levels before the attack. This trajectory reflects a delayed but sustained negative market response, highlighting concerns about escalating cross-border tensions and their potential economic impact.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3783667e-4b38-4afe-8482-ea540d6e0af3_900x454.png\" alt=\"Uri attack \" style=\"width:644px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Pulwama Attack and Balakot Airstrike(Feb 2019)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The&nbsp;<strong>Pulwama attack<\/strong>&nbsp;occurred on&nbsp;<strong>14 February 2019<\/strong>, with the retaliatory&nbsp;<strong>Balakot airstrike<\/strong>&nbsp;taking place on&nbsp;<strong>26 February 2019<\/strong>, both escalating geopolitical tensions. On the day before the Pulwama attack (<strong>13 February<\/strong>), the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;stood at around&nbsp;<strong>10,793<\/strong>. When markets reopened on&nbsp;<strong>15 February<\/strong>, the index slightly declined to&nbsp;<strong>10,724<\/strong>, a&nbsp;<strong>\u22120.6%<\/strong>&nbsp;dip. One week later (<strong>22 February<\/strong>), the index was almost unchanged at&nbsp;<strong>10,791<\/strong>&nbsp;(<strong>\u22120.01%<\/strong>&nbsp;vs pre-attack levels), showing a neutral reaction overall. However, by one month (<strong>14 March<\/strong>), the index had surged to&nbsp;<strong>11,343<\/strong>, a strong&nbsp;<strong>+5%<\/strong>&nbsp;recovery\u2014possibly buoyed by investor confidence despite rising geopolitical risks. By three months (<strong>14 May<\/strong>), the index moderated slightly to&nbsp;<strong>11,222<\/strong>, still maintaining a solid&nbsp;<strong>+3.9%<\/strong>&nbsp;gain over pre-attack levels. This market trajectory suggests investor resilience and confidence, likely underpinned by strong macroeconomic fundamentals and political stability during an election year.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a class=\"image-link image2 is-viewable-img\" href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F497a619c-41ee-4051-a4db-69e66870e582_908x406.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F497a619c-41ee-4051-a4db-69e66870e582_908x406.png\" alt=\"Pulwama attack\" style=\"width:611px;height:auto\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Russia\u2013Ukraine War (Feb 2022)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The full-scale&nbsp;<strong>Russia\u2013Ukraine conflict<\/strong>&nbsp;began on&nbsp;<strong>24 February 2022<\/strong>. On the day before the invasion (23 February), the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;was around&nbsp;<strong>17,063<\/strong>. As the conflict broke out, markets reacted sharply, with the index plunging to&nbsp;<strong>16,247<\/strong>&nbsp;on&nbsp;<strong>24 February<\/strong>, a decline of&nbsp;<strong>\u22124.8%<\/strong>. However, a swift rebound followed\u2014by the next day (<strong>25 February<\/strong>), the Nifty had recovered to&nbsp;<strong>16,658.4<\/strong>, showing a&nbsp;<strong>+2.5%<\/strong>&nbsp;rise from the previous close. Over the next month (by 24 March), the market had stabilized, with the index at&nbsp;<strong>~17,200<\/strong>, a modest&nbsp;<strong>+0.7%<\/strong>&nbsp;gain from pre-conflict levels. This trajectory highlighted the market\u2019s rapid adjustment to geopolitical shocks, underpinned by investor confidence in macroeconomic fundamentals and central bank responses.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F134d9eac-1802-4f88-a717-a680a1c25ed5_956x426.png\" alt=\"Russia-ukraine war\" style=\"width:691px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Israel\u2013Gaza Conflict (Oct 2023)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The&nbsp;<strong>Israel\u2013Gaza conflict<\/strong>&nbsp;escalated in&nbsp;<strong>October 2023<\/strong>, impacting global markets with ripples felt in Indian equities. On&nbsp;<strong>5 October 2023<\/strong>, the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;stood at approximately&nbsp;<strong>19,545.7<\/strong>. A slight dip followed, with the index closing at&nbsp;<strong>~19,512.5<\/strong>&nbsp;on&nbsp;<strong>9 October<\/strong>, marking a&nbsp;<strong>\u22120.1%<\/strong>&nbsp;change. However, by&nbsp;<strong>16 October<\/strong>&nbsp;(a week later), the index had risen to around&nbsp;<strong>19,731.8<\/strong>, showing a&nbsp;<strong>+0.9%<\/strong>&nbsp;gain from pre-event levels. This initial recovery was short-lived, as by&nbsp;<strong>7 November 2023<\/strong>, the index declined to&nbsp;<strong>~19,406<\/strong>, representing a&nbsp;<strong>\u22120.7%<\/strong>&nbsp;drop. Interestingly, over the next two months, markets rebounded significantly, and by&nbsp;<strong>7 January 2024<\/strong>, the Nifty surged to approximately&nbsp;<strong>21,710<\/strong>, reflecting a&nbsp;<strong>+11.07%<\/strong>&nbsp;rise compared to pre-conflict levels. This trajectory suggests early uncertainty, followed by robust investor confidence and market optimism despite geopolitical tensions.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdc6850aa-4da1-44e7-a8fb-c7f5738be3ce_1116x428.png\" alt=\"Israel-gaza conflict\" style=\"width:790px;height:auto\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\">Pahalgam Attack (April 2025)<\/h2>\n\n\n\n<p class=\"has-text-align-left\">The&nbsp;<strong>Pahalgam Attack<\/strong>&nbsp;occurred in April 2025. While the direct market impact may have been delayed, we observe market movements around&nbsp;<strong>April 2025<\/strong>, suggesting a period of increased geopolitical tension. On&nbsp;<strong>21 April 2025<\/strong>, the&nbsp;<strong>Nifty 50 index<\/strong>&nbsp;stood at approximately&nbsp;<strong>24,125<\/strong>. The following day (<strong>23 April 2025<\/strong>), the index rose to about&nbsp;<strong>24,328<\/strong>, marking a&nbsp;<strong>+0.8%<\/strong>&nbsp;gain, indicating a brief positive market sentiment. However, by&nbsp;<strong>9 May 2025<\/strong>, the index had slightly declined to around&nbsp;<strong>24,008<\/strong>, reflecting a&nbsp;<strong>\u22120.4%<\/strong>&nbsp;dip from the pre-event level. This trajectory suggests initial optimism or resilience, followed by slight erosion\u2014possibly due to sustained geopolitical uncertainty or market reassessment.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7a24f1f8-a577-4515-ae5b-df10a7333790_960x410.png\" alt=\"pahalgam\" style=\"width:583px;height:auto\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a class=\"image-link image2 is-viewable-img\" href=\"https:\/\/substackcdn.com\/image\/fetch\/f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19dcc1a8-369d-4870-88ab-2a51e22d4961_2384x1052.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/substackcdn.com\/image\/fetch\/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F19dcc1a8-369d-4870-88ab-2a51e22d4961_2384x1052.png\" alt=\"\" style=\"width:896px;height:auto\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-left\"><strong>Key Takeaways: Market Response to War &amp; Conflict Events<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-left\">1.&nbsp;<strong>Indian Stock Market is Highly Resilient to Geopolitical Events<\/strong><\/h3>\n\n\n\n<p class=\"has-text-align-left\">&#8211; Initial dips are short-lived \u2014 in most cases, markets recover within 1 to 3 months.<\/p>\n\n\n\n<p class=\"has-text-align-left\">&#8211; Even high-profile events like Kargil, Parliament Attack, Pulwama, and 26\/11 saw Nifty rebound strongly, often exceeding pre-event levels.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-left\">2.&nbsp;<strong>Conflicts Often Trigger Buying Opportunities<\/strong><\/h3>\n\n\n\n<p class=\"has-text-align-left\">&#8211; Kargil War \u2192 +31% gain in 3 months<\/p>\n\n\n\n<p class=\"has-text-align-left\">&#8211; Afghanistan War \u2192 +20% gain in 3 months<\/p>\n\n\n\n<p class=\"has-text-align-left\"> &#8211; Israel\u2013Gaza (2023) \u2192 +11% gain in 3 months<\/p>\n\n\n\n<p class=\"has-text-align-left\">&#8211; These rallies suggest investor optimism returns fast, especially once immediate uncertainty fades.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-left\">3.&nbsp;<strong>Short-Term Volatility, Long-Term Calm<\/strong><\/h3>\n\n\n\n<p class=\"has-text-align-left\">&#8211; Conflicts create 1\u20135% immediate declines (e.g., Russia-Ukraine 2022, Uri attack), but often recover in a matter of weeks.<\/p>\n\n\n\n<p class=\"has-text-align-left\">&#8211; The market prices in risk quickly, and then reverts to tracking macroeconomic fundamentals.<\/p>\n\n\n\n<p class=\"has-text-align-left\">\u201cWhat lessons do you take from India&#8217;s market resilience through all these events?\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left\">If you are worried about recent market fluctuations&nbsp;<a href=\"https:\/\/advisory.investvidhi.com\/webinar\/one_on_one\">Talk to Us<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Impact of Major Wars on India\u2019s Nifty 50 (1996\u2013 Present) Kargil War (May\u2013July 1999) The Kargil War (3 May\u201326 July 1999) saw the Nifty 50 begin near&nbsp;978&nbsp;on 30 April 1999, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,21,18],"tags":[],"class_list":["post-13","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-highlight","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Impact of Major Wars on India\u2019s Nifty 50 (1996\u2013 Present) - Smart Insights by SIHO<\/title>\n<meta name=\"description\" content=\"Discover how major wars like Kargil, Pulwama, and Ukraine shaped India&#039;s Nifty 50. 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