New Delhi, March 10 -- The defence stocks have received a fresh fillip amid the Middle East conflict, which is not showing signs of de-escalating after entering its second week on Saturday. As a result, the gauge tracking the defence stocks - Nifty India Defence Index - gained almost 5% last week.

The current conflict in the Middle East, which has sucked more than a dozen countries into the fray, saw the US and its ally Israel attacking Iraq, with Tehran responding with full force. The war has not only resulted in loss of lives but also driven a surge in energy prices, including oil, natural gas and products such as gasoil.

While most of the market has reeled under the pressure from the rising oil prices, defence is one segment that has...